Why Zynga Soared While Lululemon Slumped Monday
2022 hasn't gotten off to the best of starts for the stock market, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has taken the brunt of the damage so far. The index was down 4% in the first week of trading in the new year, and on Monday morning as of 8 a.m. ET, futures on the Nasdaq were down another 153 points to 15,428.
Adding to the Nasdaq's woes on Monday morning was Lululemon Athletica (NASDAQ: LULU), whose shares fell after the yoga apparel retailer gave downbeat news on preliminary results from the holiday season. However, Zynga (NASDAQ: ZNGA) got a nice move higher as the company eyed a combination in the video game space that could bring a nice premium for shareholders. Let's look first at Zynga's big news and then turn to what had Lululemon investors in a funk to start the week.
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Source Fool.com
