3. Zynga Steps Out
The online gaming company saw its stock sink around 6% last Friday -- and then another 10% this past Monday -- after it amended a 2010 deal that gave Zynga privileged status on Mark Zuckerberg's massive social network. Under the new agreement, Zynga will get greater independence to promote its standalone Web site, while Facebook will be free to fool around with new and different game developers.
And Facebook isn't the only one stepping out on Zynga. The company also saw senior executives Roy Sehgal and Steve Schreck take off this week. The pair follow in the footsteps of a slew of Zynga brass to recently say sayonara, including Zynga's former CFO, Dave Wehner, who walked out last month.OK. Maybe it's not truly a divorce since the two parties are still somewhat entangled. How about we refer to it as a trial separation instead? Open marriage? Facebook friends with benefits? Whatever you call it, both sides are breaking their original vow and are testing the field. And judging by the reactions in their stocks, investors clearly seem to think Facebook is in a better position to go it alone, and we tend to agree with the herd on this point. Shares in Facebook jumped Monday to nearly $29, continuing their strong run from their 52-week low of $17.55, even as Zynga's stock, now down 75% since last year's high-profile IPO, swung lower on the news. Wait! That's it! We know what we'll call these swinging singles from now on. Zwyngers!
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV