Zynga Trading Halted After Facebook Debut Sparks 13 Percent Drop
Published on:
May/18/2012
SAN FRANCISCO -- (Market Watch - Shares of Zynga Inc. were halted in morning trades Friday after the stock fell by more than 13 percent.
Trading was halted after Facebook Inc. began trading in its much-awaited initial public offering.
Other social networking shares were also down in morning trades. LinkedIn was trading down more than five percent, while Groupon was off 7.5 percent and Yelp Inc. tumbled more than six percent.
Also in the red were shares of Renren Inc., the China-based social networking company, which were down more than 12 percent.
Shares of Facebook were trading mostly flat at $38.
