Zynga Spiking on Facebook IPO Announcment

Shares of social media company Zynga

are seeing much strength during Friday's trading session after Facebook announcement. According to CNBC, Facebook is expected to file its initial public offering next Wednesday. The valuation is expected to be between $75-100 billion. Currenly, shares of Zynga are trading 6% higher in sympathy with the IPO announcement at $10.08.