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Zynga hits new low
Zynga was down 8.6% in early Monday trading (7.97). After trading on Friday, Morgan Stanley investment funds held about 16% (16M shares) of those Zynga shares.
Analyst Ben Schachter wrote that he was worried about Zynga being overly dependent on a small percentage of its users for the majority of its revenues. According to Schacter, only about 2.2% of the company’s 150 million users pay for its games.
Source – thestreet
Source – WSJ