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Ahead of Zynga's (ZNGA) first post-IPO trades, Cowen's Doug Creutz is starting coverage with a...

Ahead of Zynga's (ZNGA) first post-IPO trades, Cowen's Doug Creutz is starting coverage with a Neutral. Like Sterne Agee, Creutz is worried about Zynga's slowing growth, and notes its share of daily Facebook gaming users has fallen from 50% to 38%. He also expresses concerns about Zynga's margins and culture, However, Creutz thinks shorting Zynga "could be dangerous," especially given its small float. (S-1)
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