Apple Stock Rises to New High as Zynga Stock Sinks to New Low

Posted by Knowlton Thomas

The global stock market has been considerably volatile for several months now following a short-lived recovery after the Great Recession. Tech stocks have been no exception to the rule: even staples of stability have put their wary investors on gut-wrenching roller coaster rides. Today marked a notable high and a notable low.

Apple's share price climbed to an all-time high of nearly $428, a new peak after rising beyond $400 in October before dropping back down into the $360s. It has since eased back into the low $420s but remains up on the day. This, despite numerous sessions at CES hyping up this idea of ultrabooks—in essence, the rest of the industry's response to Macbook Airs. That's because there is strong anticipation of a big year: one, if not two, new iPads; a new iPhone; and possibly even a dividend, plus likely upgrades to the Macbook and iMac lineups.

Meanwhile, Zynga's share sunk to a new low of just above $8. After debuting on the market for $10 , Zynga failed to experience the typical first-day gains. It has since dropped steadily as investors question its reliance on Facebook and its long-term profitability. Several analysts said well before Zynga went public that it was only worth $6 to $8 per share.

In the middle, Groupon is still floundering slightly below its debut price. Andrew Mason's company shorted by most investors but obviously finding some faithful risk takers to keep it afloat despite virtually all media acting as a collective harbinger of its doom.

Company:
Groupon
Website:
http://www.groupon.com
Location:
Chicago, Illinois, United States

Launched in November 2008, Groupon features a daily deal on the best stuff to do, see, eat, and buy in a variety of cities across the United States. We have about 200 wonderful people working in our Chicago office (a handful of whom you can see to your right), along with a smattering of people in Groupon's other cities. Our company philosophy is pretty simple: we treat our customers the way we like to be treated.... more

Company:
Zynga
Website:
http://www.zynga.com
Location:
San Francisco, California, United States

Zynga is the world’s largest social game developer. More than 215 million monthly active users play its games. Zynga’s games include FarmVille, Treasure Isle, Zynga Poker, Mafia Wars, YoVille, Café World, FishVille, PetVille and FrontierVille. Zynga games are available on Facebook, MySpace and the iPhone. Through Zynga.org, Zynga players have raised more than $3 million for world social causes. Zynga is... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more




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