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Zynga stock pounded

ZombieKenZombieKen Northwest, INPosts: 5,034Member Uncommon

For those that follow the business side of social gaming, Zynga stock took a pounding in after hours trading between last night and this morning.  Down 40%.  Currently at $3.05.  Compare that to the 52 week high of $15.91 set in March.


Ken Fisher - Semi retired old fart Network Administrator, now working in Network Security.  I don't Forum PVP.  If you feel I've attacked you, it was probably by accident.  When I don't understand, I ask.  Such is not intended as criticism.

Comments

  • CaldrinCaldrin CwmbranPosts: 4,505Member Uncommon

    thanks for the tip..

     

  • ReizlaReizla 127.0.0.1Posts: 3,674Member Uncommon

    Was to be expected. It's much like

    Most 'software houses' that are not selling actual physical products might boost their worth on paper when they need money, but in fact, they're not really worth a dime...

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  • DeathtognomesDeathtognomes Westland, MIPosts: 46Member Uncommon
    Well considering Zynga paid FB huge sums of $$$ fro users private data and got caught, I'm not surprised.
  • thexratedthexrated OuluPosts: 1,368Member Uncommon
    Originally posted by Reizla

    Most 'software houses' that are not selling actual physical products might boost their worth on paper when they need money, but in fact, they're not really worth a dime...

     

    Considering that the most software business are moving to the service model, you could not be more wrong. 

    With Zynga and Facebook, you have bloated evalutions. Just like with the Internet Bubble at the turn of the millenium. Their evalution is based on the estimated potential of that business rather than concerete earnings.

    "The person who experiences greatness must have a feeling for the myth he is in."

  • waynejr2waynejr2 West Toluca Lake, CAPosts: 5,698Member Rare
    Originally posted by thexrated
    Originally posted by Reizla

    Most 'software houses' that are not selling actual physical products might boost their worth on paper when they need money, but in fact, they're not really worth a dime...

     

    Considering that the most software business are moving to the service model, you could not be more wrong. 

    With Zynga and Facebook, you have bloated evalutions. Just like with the Internet Bubble at the turn of the millenium. Their evalution is based on the estimated potential of that business rather than concerete earnings.

    Exactly what I was going to say.   The same thing happened with Television industry back in the 50s/60s. 

  • laseritlaserit Vancouver, BCPosts: 3,105Member Rare
    Originally posted by XAPGames

    For those that follow the business side of social gaming, Zynga stock took a pounding in after hours trading between last night and this morning.  Down 40%.  Currently at $3.05.  Compare that to the 52 week high of $15.91 set in March.

     Great news as far as I'm concerned, sleezy company.

    I feel for the little guys that got burned, but not for the ones that should have known better.

    "Be water my friend" - Bruce Lee

  • chilipinchilipin HamarPosts: 13Member
    Think this is caused by the cases againist them. For the copyright issue of sim, and other games.

    Come to the World of Magic Earth. http://dragona.sc.gameclub.com

  • ZombieKenZombieKen Northwest, INPosts: 5,034Member Uncommon

    Ken Fisher - Semi retired old fart Network Administrator, now working in Network Security.  I don't Forum PVP.  If you feel I've attacked you, it was probably by accident.  When I don't understand, I ask.  Such is not intended as criticism.
  • Lethargic_SynapseLethargic_Synapse Kissimmee, FLPosts: 67Member
    Somebody's now bald with hair all over their palms.
  • fenistilfenistil GliwicePosts: 3,005Member
    Hope Nexon is next.
  • bigronbigron Brooklyn, NYPosts: 42Member

    I wrote a sell piece on them months ago, got called insane by hundreds of people. LOL

    Horrible company. The scammy company acquisitions (inflates their sheets, like what Enron and crew did) and theft of IP was just the tip of the iceberg. Stock option clawback provision and generally bad management means when that company sinks it's the Hindenberg. They also have no profit, or as far as I could tell, even revenue from their core business.

    Long overdue.

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