What might be a legitimate figure for the monthly burn rate of ZNGA cash???
Dear cc rider: You could be right on this one, but I don't like the trade in terms of probability, and I generally don't go bottom fishing, preferring a nice eight pound German brown. In its brief lifespan, ZNGA has only established a history of fraud, which it might be taken to task for. I readily admit that the bull dog can still make an impressive bounce over $3-, but in light of systemic market risk, I wouldn't go near it. To remain a patient short, not a day trader, has paid off handsomely with this stock. The only other group to have profited were the insiders, a topic conveniently avoided by the longs. Another figure ignored is the amount of capital vaporized in less than one year. I don't know the exact number, but it must be in excess of $1 billion, and that word is spelled with a B. So is bu.l sh.t.