Bad decisions. Running out of ideas. Crappy partnership with Facebook. Disappointing results from Zynga and expected disappointing results from Facebook. All make the perfect selling/shorting opportunities.
Zynga’s ambitious purchase of OMGPop, the maker of “Draw Something” is looking particularly ugly in the wake of the company’s disastrous quarterly report.
Shares are down 36% to $3.25 in after-hours following the disappointing earnings announcement, with one reason being “challenges” on Facebook’s platform.
- Zynga’s ‘Draw Something’ Isn’t a Pretty Picture (blogs.wsj.com)
- Game maker Zynga stock tanks after weak 2Q report (utsandiego.com)
- Farmville firm results disappoint (bbc.co.uk)
- Zynga Loses $22.8 Million in Q2, Reliance on Facebook Proves Dangerous (valuewalk.com)
- Zynga cuts outlook. Bad news for Facebook? (money.cnn.com)