Why Zendesk and Momentive Stocks Tumbled Today
Shares of software-as-a-service customer support specialist Zendesk (NYSE: ZEN) and survey software company Momentive Global (NASDAQ: MNTV) both tumbled on Friday. The two stocks fell as much as 22.7% and 16.1%, respectively, though their shares were down 20.7% and 10.8% as of 11:18 a.m. EDT today.
The two tech stocks' declines come as investors digest the news that Zendesk plans to acquire the SurveyMonkey owner in an all-stock transaction.
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Source Fool.com
