ONE MAN OPINIONS...I HOPE IS ANOTHER MAN TREASURES!
...Good news, Bad news is just keep coming!
"Technically I don't see any reason to buy Zynga here, as it is still locked in a descending channel. It could be weeks or months before the stock gets the catalyst its needs to breakout. I believe the ending lockups next week and over the summer are unlikely to push the stock much lower. Many insiders might not want to sell at these current low prices. Zynga also has 26% of the float sold short, and any good news could create a strong short covering rally."
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• Zynga has already said new games are weighted towards the back half of this year.
• With all the negative news surrounding Zynga it is important to note it is still a fast growth company, adding employees, creating new games, and expanding their reach to new platforms. The company is a long ways away from fully monetizing their over 200 million monthly active users.
** With over $1 billion in cash and no debt the company is also in strong financial shape, and in position to make key acquisitions.
• Zynga (ZNGA) has been under pressure lately, falling to new lows. The disastrous Facebook (FB) IPO last Friday, as well as next week's ending of the lockup period for Zynga insiders to sell have been cited as the reasons the decline in Zynga's stock.
• When you look at Zynga compared to other game developers, I think Zynga appears to be reasonably priced.
GLTUA.
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