Zynga stock jumps after announcing a platform separate from Facebook
One of investors' main concerns when it comes to Zynga is the fact that it piggybacks on Facebook -- very successfully, mind you, but still, its entire multi-million dollar existence relies on a social networking platform that has a mind and billions of dollars of its own. Yesterday, when Zynga announced it will be launching its own gaming/social platform at zynga.com, investors perked up, and Zynga's stock rose 10 percent.
Zynga's stock had been trading at $13.43 and it rose to $14.49 by the end of the day yesterday. For once we agree with the stock market, at least in principle. Anything that puts Zynga in its own bubble that can only be reached by choice is a very, very good thing.
