What might be a legitimate figure for the monthly burn rate of ZNGA cash???
I know the market is forward looking, and there is much hope placed on the coming online casino. I'm just asking this question for the math, versus hype oriented traders, since no current revenue is being generated in virtual Monte Carlo. This is an important question for anyone who looks at hard numbers, increasingly rare on this board.
Happy New Year to all the ZNGA gamblers. May it be a safe and sober one. Roll the dice one more time baby!! There's only a few hours remaining to this year.
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.