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
- Four Drivers in the Week Ahead | ZeroHedge
- This Is How Much It Cost To Keep The Shanghai Composite Green For A Day | ZeroHedge
- The Next Derivatives Implosion Just Started in Europe | ZeroHedge
- Russia Celebrates Independence Day By Flying Strategic Bombers 200 Miles Off California Coast | ZeroHedge
- Barry Bannister on Greece | Financial Sense
- ECB To Keep Greece On Hold Until Wednesday When Balyasny Sees Rioting Begin | ZeroHedge
- NYSE Margin Debt: A 1.6% Decline From Last Month's Record High | Financial Sense
The most relevant financial news and articles from the Internets
- It will now cost more to use Netflix and Spotify if you live in Chicago | Business Insider
- Here's your complete preview of this week's big economic events | Business Insider
- A major makeup brand is under fire for body-shaming tweets | Business Insider
- This is the real reason Twitter is copying Facebook and wants... | Business Insider
- The Seattle Mariners' $240 million free agent... | Business Insider
- Unusual 11 Mid-Day... | StreetInsider.com
- 'Can't take risk' of Greece leaving euro: French PM... | Business Insider