Zynga: CEO cashes out, company burns up

Via Gamasutra:

Though Zynga’s stock prices have plummeted since the company’s earnings report on Wednesday, CEO Mark Pincus and other insiders managed to reduce their damages from the crash by dumping shares months ago.

Of those insiders who sold their stocks early, Pincus made the most and brought in $200 million from the sale, but several others also took home eight-figures. They would have made a lot less if they waited until today to dump their shares like many other investors.

Somehow I don’t feel sorry for anyone who thought that the maker of FarmVille would be a good investment.

About these ads
Tagged
Follow

Get every new post delivered to your Inbox.

Join 1,227 other followers