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After much hype about the IPO of Zynga, the stock had a disappointing debut as many analysts wonder whether the social media game maker will be able to keep growing — and if Facebook will get in the way.
Investors should be cautious before jumping into a new initial public offering.
Zynga’s long-anticipated IPO did not benefit from the same first-day bumps that LinkedIn and Groupon soaring higher earlier this year. The social gaming company raised $1 billion—issuing 100 million shares at $10 a share – making it the largest Internet-related IPO since Google’s $1.4 billion offering back in 2004.
US stock index futures pointed to a higher open on Wall Street Friday despite a downgrade by Fitch Ratings of Goldman Sachs, Bank of America and five other large banks based in Europe and the US, citing "increased challenges" in the financial markets.
When the financial markets were zigzagging all over the place in the third quarter, venture capital investments were surprisingly robust.