Zynga: Lucky No. 7?
Zynga Inc. (ZNGA) pulls a Hail Mary pass and traders pushed up shares of its stock on Vegas like dreams. That's right, Zynga wants be a legal online website for gamling. Role the dice investors.
Zynga (ZNGA) filed paperwork in Nevada this past week to onbtain a license to do real gaming in the United States of America. Who knows if this will work and the process could take 18 to 20 months.
Online gambling is a big leap of faith and shot in the dark. It smells like desperation from the company as the FarmVille money pool slowly dries up. Since its IPO last year Zynga has lost more than 73% of its market cap. I'm sure this latest venture into wanna-be gambling will work out (we are not serious).
Bottom line: If you plan to trade ZNGA you have to expect volatility and please don't risk your life savings on the stock.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Turkey Contemplates Buying Deutsche Bank | ZeroHedge
- Why Much of Asia Is Thankful for the Upcoming iPhone Release | Financial Sense
- Billionaire Capital Turns Into Ghost Town: "Home Contracts Down 80%", Trophy-Cars Pile Up In Showrooms | ZeroHedge
- General Market Commentary 9-27-2016 (Video) | ZeroHedge
- U.S. Corporations Side With Saudi Arabia Against The American People Over 9/11 Victims Bill | ZeroHedge
- The One Thing You Really Do Need | Altucher Confidential
- The Not so Silent Demise of Deutsche Bank | Financial Sense
The most relevant financial news and articles from the Internets
- Wells Fargo CEO will forfeit $41 million in pay... | Business Insider
- Saudi Arabia is softening its stance on oil | Business Insider
- The Fed is thinking about making big changes to how it tests America... | Business Insider
- UBS: These 6 housing markets around the world are closest... | Business Insider
- Anti-Defamation League declares 'Pepe the Frog' a hate symbol | Business Insider
- The surge in home prices is slowing down | Business Insider
- A record 84 million TV viewers watched the first... | Business Insider