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
- The Real Reason Why The Netherlands Repatriated Its Gold | ZeroHedge
- The Japanization Of Europe In 9 "Different This Time" Charts | ZeroHedge
- Blistering Demand For 2 Year Paper Send Entire Curve Tighter | ZeroHedge
- Russian Crew Boards 1st Mistral Carrier As France Quietly Completes Construction Of 2nd Ship | ZeroHedge
- Hugh Hendry Live 3: "To Bet Against China Is To Best Against Central Bank Omnipotence" | ZeroHedge
- It's Decision Time For Gold, Miners, And The Dollar | ZeroHedge
- Swiss Gold Initiative: Good Idea with Unintended Consequences | ZeroHedge
The most relevant financial news and articles from the Internets
- Protesters demand indictment of policeman in... | Business Insider
- It'll Be A Busy 4-Day Week For The Economy — Here's Your Complete... | Business Insider
- St. Louis Financial Firms Are Preparing For Protests | Business Insider
- PUTIN: We're Stronger Than Everybody | Business Insider
- J.J. Abrams' Handwritten Note Confirms 88-Second 'Star Wars'... | Business Insider
- BREMMER: Chuck Hagel 'Wasn't Given A Chance' | Business Insider
- Hallucinogens Legally Sold as 'Bath Salts' a New Threat | BusinessWeek