I always have the most fun on the Fourth of July. You don't have to exchange any gifts. You just go to the beach and watch fireworks. It's always fun. Have a great holiday!
All delusional opinions aside, a one month chart reveals the true story of this pathetic company. An intraday high of $3.07 was achieved last June 5, and it has been a steady downward slope since then. Grain by grain, there has been a slow steady price erosion. It should concern the speculators on this board that the ongoing decline occurred on the back of extremely subdued volume. That tells me that interest in this sham company by smart money is dying at a rapid clip, and the long term baggies have yet to unload this lost cause. Those remaining in La La Land live on a prayer, and even these mad cap gamblers will tire of loss carry forwards. That day is still before us, and we will soon see a single session where more than 30 million shares attempt to cross the tape, and ZNGA's horrible liquidity is thus revealed. The bid side will then drop precipitously as the sheep all press sell simultaneously. I suspect the ZNGA decline occurs in the midst of heavy selling in the broad averages when the players decide it is no longer feasible to hold companies with zero earnings.
Disclosure: Zngathustra is well compensated by a major hedge fund to rant and rave incessantly on the ZNGA message board. His only requirement is to be a seeker of truth at all times. "Truth is beauty, and beauty truth. That is all there is and all there is to know."
Sentiment: Strong Sell
I think the trading pattern is pretty well defined. I traded this for 6 months before going long and I think the technical are very well established and informative.
We had that support for quite a while and it has broken down. If it bounces dramatically tomorrow we could see it be support, but a good chance this can drift lower now. Not good news for the longs.
They promised 6-8 games during Q1 CC. They have released Empires and Allies and Harvest Swap so far. DoT and Mountain Goat in the beta. CSR2 first look was just announced and HIR2 should be coming soon. Pincus, you are the man.
I love seeing what these guys uncover, always something with big potential.