Serious Post for Longs
Want to see how much people bought at and whether they will continue to hold for some time at least.
I bought in 1000 at 10.2
Currently will continue to hold and see if I can make it for some time at least.
I purcahsed 800 shares at about 12.20. I panicked a couple of weeks later and sold at 8.69. I bought apple and made a little of it back but still took a beating!
Like many, I was hoping to profit from the facebook ipo.
For the record, facebook will make ipo holders money, but I see no long term future in that company unless they diversify fast! People are already growing tired of it. See myspace.
550 @ about 9.16, i like this company after seeing earnings, i was originally just going to hold through earnings for a quick flip, but i think i might stay awhile now that (1. im kinda stuck here since the price went down(2. I think we have a bright future with a good report and FB ipo up ahead....However, i dont like the fact that the market in general appears bearish to me and "sell in may" is right around the corner
The two biggest problems with ZNGA for me is the stock above any of my other concerns.
1. They actually floated shares in the market, unlike GRPN, YELP, and SPLK.
2. The stock is in the 10-handle range with a lot of interest.
I believe in the strategy of the company. Ultimately, you pay for future earnings, not short term day to day fluctuations in price. These movements are not driven by anything fundamentally wrong with the company, but merely traders who are looking to go long and short and profit on swings.
ZNGA also has a GRPN problem. They are lumped together with GRPN which is a scam of a company ripe with accounting fraud and heading to zero. But, it is impossible to short GRPN because there are no shares to borrow since no one wants to buy that piece of crap. So, people trade tech 2.0 on ZNGA since they can't do anything with GRPN.
If you own it, like I do, I'd recommend ostriching this stock. You saw the fundamentals of the company last night, you know the business model and growth opportunity. What you don't know are the day to day fluctuations. They are conservative in their approach to generating ad-revenue and are looking to cross promote and expand instead of monetize. We knew that to be true. I believe ZNGA has a good strategy and I think the management of ZNGA believes in making ZNGA a powerful global brand.
i'm 1000 at $10.70...i'm going to wait it out. Not like Zynga doesn't make money or losing money consistently like Linkedin...it will be brutal till everyone unloads the amount of shares that they want and it should be up from there on out...not sure if you want to wait that long...i was planning to hold this for a while anyways.