![]() The company announced Thursday that it's closing its office in China and firing over 70 employees there. Zynga's stock was nearly $5.90 a share about a year ago. "We have been highly skeptical of Zynga's prospects over the past two and a half years," Greenfield wrote in a report, noting the time when BTIG downgraded its rating on Zynga. Related: Candy Crush(ed): Stock drops 20% Zynga CEO Don Mattrick needs to resign, says BTIG Research analyst Richard Greenfield. Even worse, its number of monthly users dropped 3%. Zynga only received a 14.Īlthough Zynga's revenues were up from a year ago, their fourth quarter results were below expectations. Rapid Ratings, which rates companies health and prospects on a scale of 0 to 100 gives King an 81. ![]() There's momentum again, although it's important to note that King stock is still only trading at about $16.50.įor Zynga, it's looking more and more like "game over," at least for this round. ![]() King also announced the purchase of Seattle gaming company Z2, whose added games will, "quell fears that King will be a 'one hit wonder' company," Gellert says. King pulled in $545 million in revenue compared to analyst's expectation for $515 million. ![]() Its newer hits include Bubble Witch Saga and Candy Crush Soda Saga, a spin-off of its popular mobile game where players have to get similar characters together. Normally stocks bounce on IPO day, but not this time.īut King is managing a second act. King had the Wall Street equivalent of an epic fail last March when its stock debuted and quickly dropped from $22.50 to close at $19. ![]()
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