Zynga Cuts Sales Outlook, Facebook Shares Drop By 3%
Social gaming network Zynga watched it’s own shares drop by 20% on Friday morning after the company announced a dismal sales outlook for its end of year bookings forecast. That announcement led to a 3% decline in Facebook stock prices.
Zynga shares are now at an all-time trading low of $2.21. Zynga on Friday announced an $85-$95 million impairment charge for the purchase of Draw Something.