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Value of Zynga, Maker of Farmville and Mafia Wars, Plummets, Pulling Facebook Down with It

Things are not looking good for Zynga, the developer of popular Facebook games like Farmville, Mafia Wars, and Hidden Chronicles. At the close of the market yesterday, the value of Zynga stock had decreased by more than a third, to $3.18 a share, which likely led to a devaluation of Facebook stock, down eight percent after late trading yesterday. Zynga is doing no better today: at the close of the market, the value of Zynga is hovering around $3.17 a share. Shortly after the Zynga IPO that took place last December, Zynga stock was worth nearly four times as much.