What’s that funny popping sound? It’s the
air going out of Zynga’s stock.
Shares of the social-gaming firm plunged almost 20 percent
to $2.82 last night after the company cut its full-year forecast for a second
time and said it would write down its purchase of startup game-maker OMGPop by
a whopping $95 million.
The maker of “Farmville,” “CityVille” and “The Ville” said
it was also planning to cut costs after warning that it would report a loss in
the third quarter after the write-off. The
company, run by CEO Mark Pincus, was looking to soften the impact before it
officially reports Oct. 24, but instead investors hit the panic button….
http://www.nypost.com/p/news/business/omg_zynga_panic_ash1BrTxSPfesk1n2sf24O
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