New York (December 3rd, 2012) – After falling sharply in the previous trading session, Zynga Inc. (NASDAQ: ZNGA) is extending its losses in mid-day trading today. ZNGA, which is a social gaming company, fell more than 6% on Friday after the company entered into new contract terms with Facebook Inc. (NASDAQ: FB). The stock has fallen another 6.50% to $2.30 in mid-day trading today.
Prior to Friday’s sell-off, ZNGA had an excellent run bouncing back from an all-time low of $2.09. However, investors fear that the new contract terms with Facebook will have a negative impact on ZNGA’s already struggling business. ZNGA has support at around $2.25. If the stock falls below this level then the downward slide could continue.
Bank of America Corp. (NYSE: BAC), a global financial services company, is marginally lower in mid-day trading today. At last check, BAC was down 0.23% to $9.84 on volume of 54.22 million, which is nearly a third of the daily average volume of 149.11 million.
BAC last week said that it will release its fourth-quarter results on January 17, 2013.