Zynga stocks at six-month high

Zynga stocks at six-month high
Seth Tipps

By Seth Tipps

February 11th 2013 at 7:21AM

Shares rally by 11 per cent to $3.48

The latest earnings report from Zynga has led to an increase in the company's stock prices.

The firm first hit heavy weather after the disastrous Facebook IPO, and proceeded to take hits throughout the remainder of 2012.

The stock, once priced as high as $15.91, fell to a low of $2.09 and stayed below $3 for several months.

Things began to turn around on Tuesday, when Zynga's Q4 earnings report showed record revenues of nearly $1.3 billion and growth in both daily and monthly active users.

The next day stocks closed just short of the $3 mark, and by Thursday the company was in a full rally.

Shares closed on Friday at $3.48; an 11 per cent growth that marked the highest prices have risen in six months.

This is a pretty astonishing result for a company that lost $209 million, but investors are looking past the losses and seem to have decided the worst is over and that Zynga is again on the ascent.