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
- "Worse Than Lehman" - European Bank Bloodbath Sparks Dollar Funding Crisis | ZeroHedge
- Market Recap Jun 24, 2016 | FundMyMutualFund
- Brexit & The Fourth Turning | ZeroHedge
- Boris Johnson Wins Key Support To Become PM As Labour Leader Foils Leadership Coup | ZeroHedge
- Derivative Strategist Warns Of $150 Billion In Quant Selling Over The Next Three Days | ZeroHedge
- China: Has Policy Reflation Lost Momentum? | Financial Sense
- Gold Surges 15% To £968 Per Ounce – BREXIT Creates EU Contagion Risk | ZeroHedge
The most relevant financial news and articles from the Internets
- THE... | Business Insider
- Tesla is testing an intriguing partnership with an unlikely company | Business Insider
- Fintech could be bigger than ATMs, PayPal,... | Business Insider
- 30 things every New Yorker should do this summer | Business Insider
- Financial Times stresses important of Google AMP... | Business Insider
- 8 tiny things people use to judge your personality | Business Insider
- Every guy should be wearing this type of watch in the summer | Business Insider