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Zynga Shares Take A Hit
Zynga shares are down to $5, dropping more than 10% today.
Analysts are pointing to waning interest in Facebook gaming, which is where Zynga originally gained most of its popularity. Everyone is playing mobile games these days, according to analysts., though they said it with much fancier terminology.
"Zynga's daily active users dropped 8.2 percent to 54.2 million in May, according to AppData.com, a website that tracks apps on Facebook and mobile platforms."
Zynga's large investment in OMGPop and Draw Something also appears to be hurting the company, as the game is rapidly losing users. Zynga has hired Jennifer Lopez and Enrique Iglesias to help promote the game, which was recently translated into a few new languages. I'm not going to pretend to understand how those celebrities and playing Draw Something in Italian relate.
[via Reuters]
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