They could of BOT ZNGA for a lot less and entered the online mobile social gambling business. The future of video gaming is play-for-profits and income as home business opportunity.
When the older casino bricks-and-mortar casino owners 'retire', their kids and new owners will be mobile social gaming conscious
venue of profiting. Note how Fantasy Sports owners ripped their players off by 'front-running' them, based on insider info on betting pool direction. Once states get their hands on online betting, it will be semi-regulated to prevent anyone from ripping the states. You know who 'wins' at Lotto . . . right . . . with its poor pay-out odds to retail players.
If anyone BOT ZNGA very near it's recent lows and sold today high,
they were successful riding the earnings announcement effect from the ZNGA stock buy-back (especially insiders). <---follow the 'money' short-term trading?
If a company spends its cash, buying back its own stock and shows a profit . . . that is wise-business management tactic . . . but why not buy TAPM VG maker or whatever to increase players stats and intellectual property talent.
Oh wait . . . ZNGA just fired employees to make a break-even.
I know this must work out . . . somehow . . . to benefit future sales revenue of in-game ads on a declining player base (year-on-year). Buying-back-your-own-stock does not make one the FED owning its own debt purchase? You can push a stock price up . . . on declining player stats? I guess maybe it works.
They did not cover that type of thing . . . in accounting as-if-it-mattered. However; ZNGA broke-even and even mighty TSLA cannot seem to reach that point over its earnings reports record.
OT: If you own Na-Ten-dough maybe better starts hoping for Candy Crush does not do a 'Farm-Ville'?
