After its first day on the NASDAQ, Zynga’s performance has been less-than-impressive, and Gamasutra editor-at-large Chris Morris takes a moment to figure out exactly what went awry.

Shares in Zynga’s Wall Street debut may have started strong today, but minutes after they began trading, the stock’s pricing chart looked like something that even the most extreme skier would have avoided.

By the time all was said and done, the company was down 5 percent, closing at $9.50 per share (and was down as much as 10 percent at one point during the day), bucking the trend of the year’s other hot internet stocks, like LinkedIn and Groupon — despite the fact that Zynga is profitable, while those companies are not. What went wrong?

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