Northern, WI 2/2/12 (StreetBeat) -- Shares of Zynga Inc. (Nasdaq: ZNGA) surged 16% Thursday morning, setting a new record high since the company's initial public offering in mid-December. The stock rose as much as 20% to a high of $12.91 in early trades. Analysts cited a "halo effect" from Facebook's S-1 filing on Wednesday afternoon -- ahead of its own IPO expected for later this year -- which spelled out more clearly the strong relationship between the two companies, with Zynga accounting for about 12% of Facebook's overall revenue last year. "While this doesn't reduce the risk of Zynga relying on Facebook, we do see that Facebook also relies on Zynga," said Ed Williams of BMO Capital in an interview.StreetBeat Disclaimer
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