Zynga Spiking on Facebook IPO Announcment
Shares of social media company Zynga (NASDAQ: ZNGA) 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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.