Zynga stock sinks after lowered 2012 outlook
Zynga now expects 2012 bookings of nearly $1.09 billion to $1.1 billion, down from earlier expectations of between $1.15 billion to $1.23 billion. Bookings reflect in-game purchases of virtual goods in the quarter they occur.
A representative for Zynga could not immediately be reached to comment Friday.
Zynga's stock fell 34 cents, or 12 percent, to close at $2.48 Friday. It hit an all-time low of $2.21 earlier in the session. The San Francisco company went public Dec. 16. Its stock had priced at $10 the night before, but Zynga was one of the few social media companies to close lower on its first trading day, at $9.50.