Zynga (NASDAQ:ZNGA) missed their predicted earnings of $343.1 million leading to a stock free-fall of 40% this morning. The miss has also dragged down Facebook (NASDAQ:FB) more than 5%. Facebook is expected to release earnings after the bell today.
With Zynga’s miss and Facebook’s IPO issues, Social Media and Internet Tech is starting to look like a fad. Zynga’s stock is down more than 67% since its IPO in December.
[Image via Forbes]