Zynga's Stockholders Should Be Very Happy with Facebook Right Now
After Facebook's initial public offering paper revealed that Zynga accounts for 12 percent of the social network's revenue, ZNGA has been on quite a bull run up at NASDAQ. After hovering around $10 per share since its own IPO in December, Zynga's stock graph takes a hockey stick-shaped turn the moment markets opened after Facebook's S-1 filing hit the Web. It kept running up and up until lunchtime on Friday when the stock price peaked at $14.35. Without using a calculator, it's easy to see that Zynga stockholders can thank the Facebook bump for about a 40 percent increase in their portfolio value. Next time you see Mark Zuckerberg on the Street, Zynga stockholders, be sure to give him a fist bump.
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