Zynga Nearing IPO Price

Jan.24.12 | About: Zynga (ZNGA)

Don't look now but shares of Zynga (NASDAQ:ZNGA) just traded to their highest levels since the day the company went public. After pricing at $10 per share, shares of ZNGA reached as high as $11.50 per share on the day it went public (12/16) but then quickly gave up all of its gains and traded as low as $7.97 in early January. While the IPO of ZNGA was originally thought of as a lousy deal for investors, anyone who bought the stock the day after it opened for trading is showing a profit on the position, which is more than investors in a lot of other social networking IPOs like Groupon (NASDAQ:GRPN) and LinkedIn (NYSE:LNKD) can say.

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