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
- Potential Intraday Runners | iBankCoin.com
- Asia-Pac Stocks Head For Worst Losing Streak In 12 Years | ZeroHedge
- Patience on This Ship | iBankCoin.com
- 47% of Chinese Billionaires Want to Leave China Within 5 Years | Financial Sense
- Gold - Watch the €1000 Level | Financial Sense
- Goldman's Take On China's "Stealth QE" | ZeroHedge
- House Votes To Fund Arms To Moderate - For Now - Syrian Rebels (And Ex-Im Bank) - Live Feed | ZeroHedge
The most relevant financial news and articles from the Internets
- For The First Time Since The Shuttle Was Retired The US Will Soon Have A Way To... | Business Insider
- Scottish Independence Could Indirectly Lead To The End Of Britain's... | Business Insider
- U.S. Kids Using Media Almost 8 Hours a Day - BusinessWeek | BusinessWeek
- Apple Is Just One Step Away From Ending The Block On iPhone 6 In... | Business Insider
- Forensic sleuths sketch Richard III's brutal end | Business Insider
- The Latest Effort To Save The Eurozone Just Fell Flat... | Business Insider
- Gerrard rescues Liverpool as Arsenal suffer | Business Insider