Zynga is learning the hard way that Facebook may not be the best platform for gamers, Doug Creutz, media and entertainment analyst for Cowen and Company, told CNBC on Squawk on the Street.
"I do think Zynga has a real business and there is a value for it," Creutz said. But the company, which traded at $10 a share at its IPO and $15.91 at its highest, priced in an “enormous amount of growth,” which also meant a lot of risks, Creutz said. And one of those risks was betting big on the social gaming platform. "Facebook is not a great gaming platform compared to mobile," he said.