Zynga Underwriter J.P. Morgan drops stake to less than one percent

Financial servicer J.P. Morgan reduced its stake in Zynga's stock to 2.6 million, less than one percent, All Things D reports.

In January 2012, J.P. Morgan reportedly owned 6.7 million shares, or 6.7 percent company stake. At the time, shares traded for $9.12, making the company's Zynga stock worth nearly $61 million. Today, Zynga's stock is worth $2.49 per share, which reduces J.P. Morgan's share worth to $7 million.

According to All Things D, as companies typically update records after holdings drop below five percent, it's unclear when J.P. Morgan reduced its stake holdings, or at what price it sold them.

Zynga continues to face financial challenges; in December, Zynga closed its Japan office. The company has begun to focus on online gambling, which Zynga hopes to use as a way to enter a new market in social gaming.

More from Polygon

A guided video tour of an Unreal Tournament map

  • Freedom Planet gameplay video

  • Adventure Time trailer

  • Hearthstone: Naxxramas Overview

  • Oddworld: New 'N' Tasty - Overview video

Latest Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.
Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_5353_tracker