Wall Street Winces At Zynga Event As Shares Tumble Nearly 5%

It's been a super tough few months for Zynga and internal morale at the company. After Facebook's lackluster IPO and the lock-up period for employees broke, Zynga shares have slipped more than 30 percent since May. Today could have been a reprieve for the company, which had its big semi-annual launch event today in San Francisco. Shares were up early in the morning, but they dramatically sold off around 11:30 a.m. Pacific time by about 5 percent to $5.79. I'm not sure exactly why this happened -- as no one can ever fully understand the logic (or illogic) of the market -- but it was around the time that the company talked about casino games.

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