Zynga IPO: Shares dip, stabilize in morning trading

December 16, 2011

Zynga chief executive Mark Pincus got to ring the opening bell Friday as the Nasdaq opened, but he couldn’t ring in a monster rise for the gaming company’s debut. Zynga’s stock has been up and down all morning, taking a dip to $9.50 per share around 11 a.m. and climbing to $11.50 per share.

Zynga announced late Thursday that it would price shares at the top of its range for $10 a pop. Shares were hovering within a dollar of that price at 12:30 p.m.

Zynga competitors including Electronic Arts and Activision were up around 2 percent at the market’s open, though both also fell slightly at midday.

The game company failed to see its share price increase in a way similar to LinkedIn, whose share price skyrocketed to $122.70 in its first day on the market after a starting price of $83. The stock is currently trading at around $64.

LinkedIn’s success set off chatter about the second coming of the tech bubble, but IPOs from Pandora and Groupon have failed to catch fire the way that many expected.

Related stories:

Zynga hits market with $1B IPO

Alec Baldwin’s ‘Words with Friends’ obsession gives Zynga a boost

Venture Beat: How Zynga grew from gaming outcast to $9B social game powerhouse

Hayley Tsukayama covers consumer technology for The Washington Post.
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