Zynga Unleashed spooks investors

Zynga Unleashed spooks investors
Seth Tipps

By Seth Tipps

June 27th 2012 at 1:55AM

Share price drops thirty cents following press conference

Investors aren't buying Zynga's 'Unleashed' press conference, causing share prices to fall by thirty cents.

The company has been steadily regaining ground lost in a series of crashes that brought shares down below half their original valuation.

Today seemed to be a continuation of that trend, until investors caught wind of the major changes unveiled at today's "Zynga Unleashed" press conference.

Shares closed at $5.77 cents after a daily high of $6.35.

The company revealed it was opening up its API to third party developers in an attempt to draw more attention to its newly launched standalone platform Zynga.com.

Several new social features were announced, such as Zynga with Friends, and multiplayer.

In addition, developers were given a look into the technological guts of the operation which boasts over a million player actions a second.

It is unclear what specifically troubled investors about the announced changes, but the five percent drop and a low of $5.61 shows the company is walking a fine line between recovery and a dive to the doghouse.