Zynga (ZNGA +0.3%) is outperforming after pricing a 43M share secondary offering (all of it...

|About: Zynga (ZNGA)|By:, SA News Editor

Zynga (ZNGA +0.3%) is outperforming after pricing a 43M share secondary offering (all of it involving insider sales) at $12; shares are currently trading at $12.26. Zynga's modest gain comes in spite of a new bearish note from Sterne Agee's Arvind Bhatia (previously), who points out new games (I, II) haven't prevented Zynga's daily users from remaining flat in Q1, and mobile monetization significantly lags Facebook monetization.