Since Facebook's dismal IPO, other online companies have suffered a drop in stock price as well. None have suffered quite as badly as social games master Zynga, whose primary platform for release was Facebook.
Zynga's stock price per share was initially $10 when its IPO launched last December. It closed yesterday at a dismal $4.97 after losing 10.2% of its value. At the time of this article's writing, Zynga’s recovered slightly and is back in the $5 range.
In an effort to prevent its stock prices from dropping further, Zynga announced that it was expanding Draw Something to 12 different languages to be more accessible. That seems to be a temporary fix as Draw Something has been bleeding users less than a month after its launch on the App Store.
The company's going to have to devise up a new social games scheme or acquire another hit social game to keep the fire fueled. Otherwise it may head in the likes of THQ.