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
- Core Durable Goods Orders Tumble For 14th Month To Lowest Since 2013 | ZeroHedge
- US Services Data Rebounds But Jobs, Backlogs "Highlight Fragility" Of US Economy | ZeroHedge
- Pro-Brexit Leader Jokes "Keep Sending Obama Over" After Surge In Polls | ZeroHedge
- License To Steal: Italy’s Highest Court Rules “Theft Not A Crime If Hungry” | ZeroHedge
- I Think Icahn | Financial Sense
- Stocks Slump, Dollar Jumps After China Sends Message To Fed | ZeroHedge
- ECB Blames You For Negative Interest Rates | ZeroHedge
The most relevant financial news and articles from the Internets
- Here were the winners and losers in this quarter's tech earnings... | Business Insider
- This bar in Tokyo has 'robot cabaret' | Business Insider
- BuzzFeed is drawing an absurd amount of content views... | Business Insider
- The world's largest beer maker should be worried about its survival | Business Insider
- What it's like inside North Korea ahead of the country's first... | Business Insider
- Britain's Prime Minister is refusing to apologize for calling Trump... | Business Insider
- Britney Spears hasn't been in control of her career or personal life... | Business Insider