Zynga Inc’s (NASDAQ:ZNGA) Jeff Karp has quitted as chief marketing and revenue officer, turning into the most recent executive to quit as a share-price plunges erodes the value of staff reward at the biggest manufacturer of social games played on Facebook Inc (NASDAQ:FB), world’s biggest social networking site
Karp’s quit, announced in a regulatory filing today, follows around 7 other executives who have departed since early August after a second-quarter earnings announcement failed to meet analyst forecasts and showed sluggish sales at the game manufacturer.
Shares of the social game maker plunged 72% since the corporation’s December IPO, eroding the value of equity used to reward staff. A person with familiar about decision stated previous month that the corporation reported it would offer equity grants to full-time workers after the earnings report to prevent exit of staff.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. THQ Inc (NASDAQ:THQI) fell -0.92% to settle at $4.29, Yahoo! Inc (NASDAQ:YHOO) moved down -0.72% to end at $15.11 while Shanda Games Limited (ADR) (NASDAQ:GAME) plunged -0.52% to finish on Monday at $3.84.
Zynga Inc (NASDAQ:ZNGA) on Sep 10, 2012 decreased -2.08% to the closing price of $2.82. The overall volume in the last trading session was 4.76 million shares. Its fifty two week range was $2.66 -$15.91. The total market capitalization remained $2.14 billion.
ZNGA is ahead its 52 week low with 6.02% and lagging behind from its 52 week high price with -82.28%. ZNGA last month stock price volatility remained 4.39%. In its share capital ZNGA has 759.63 million outstanding shares among them 453.57 million shares have been floated in market exchange. ZNGA stock institutional ownership remained 44.73% while insider ownership included 0.20%.
The stock price of ZNGA is moving down from its 20 days moving average with -6.09% and remote negatively from 50 days moving average with -25.24%. ZNGA current year earnings per share experienced an addition with -570.12% while its current quarter performance remained -49.19%.
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