Zynga Stock Continues to Slide

Zynga makes a living off of selling virtual products to social gamers through its games on Facebook, which accounts for somewhere near 90% of their income. The stock has been in a steady decline after the company made public its intentions to make focus on large acquisitions, similar to its OMGPop deal. Investors are growing concerned that the company could squander away its $1.8 Billion cash and assets more acquisitions. That coupled with rumors of defections by acquired top developers, who refuse to work for Zynga,  one developer having referred to them as an "evil company". Now sprinkle some questionable accounting practices - and you have a problem. Mark Pincus, CEO of Zynga, has seen his overall wealth decrease by at least $400 Million if not more over the last week. With the Facebook IPO looming, the debate surrounding whether to buying Zynga or leave it allow has started. The stock is trading below its IPO price of $10.


Read the Forbes Article "How Zynga, Facebook and Groupon's Go-To Auditor Rewrites Accounting Rules"