Znyga tanks because of the lost of faith in Social Medias stocks, not because of any problem. Right now, it is focusing on mobile and entering real money gaming. When either of these kicks in, we will soar. If both of them start working, we will be above $15.
What's the downside? The downside is mid Aug when the staff can cash in their stock. If they do, we may go to $2.10, $2.20. If they don't, we are flying upwards to $4-$5, just because it says a lot of what the insiders know.
And after August, we will start to stabilize and move upward. Longs need to hold tight and aim for $8 this year. My prediction is we will touch $8 and then rest at $6.50 by year end.
2013 will be different. With real money happening in international , we are heading to $10. And possibly with news allowing US to do real money gaming, we may head towards $15. Be positive.
If you are a bagholder from $11, you still have a chance. If you are a bagholder from $6, you will be silly to sell now. If you are a short, it really doesn't make sense not to cover now...any news can kill you.