How much? Figured they were. The percentage grew from 2/10. I suppose retail and smaller funds getting out and bigger ones keep adding. This is practically owned by big money. Just cant figure this out unless they see gold at the end of the tunnel when others don't.
I don't think shorts are that stupid. They know where this will bottom with liquid and non liquid assets and continued revenue. Regardless of their weaknesses, they still generate a good chunk of revenue. Also institutional ownership is still relatively high. As long as big money owns most of this stock, it's a good sign they are not going out of business. since big money is already here and what we saw yesterday and the day before was reduction of some positions and short covering, this needs a catalyst to start moving up some.
No compassion for little productivity. Look at GLUU, half the workforce and more output.
1600 at ZNGA HQ or all around? I think they are still tracking about 2000. Anyhow, they only need half of that given their output. Sad.
Not trying to mislead anyone here. Just commenting that ownership is high amongst those with big money. As far as the building is concerned, they should get rid of it. It is value tied up and generates no income. To build software they do not need such a lavish extravagant building. A warehouse setting with cubicle offices and other niceties will suffice. If not out source the work and keep bare minimum to over see work. Besides, if they get one earth quake in that area, their equity will be lost. They need to put that money to work just like the other billion sitting on their book. Adds no value for us as long as it does not grow double digits. They all need to be fired for mismanagement of investor interests.
It looks like funds are reducing their position while others coming in picking a few million here and there for a small ride up later. Retail is noise at this time. The stock was owned by almost 80% institutions and insiders. If major funds were totally elminating their position you would see a 100 million trading day when day is over. It has happened before when Don Mattrick exited the company and funds that were in because of his leadership left too. If we do not see a major reduction in fund holding then they are expecting something. They won't hold dead money for 9 months into the new year. They'll take their loss, write it off and move on. ZNGA is trading so low that it becomes attractive to some. The lack of daily users is an issue but can be regain with some marketing. They still have a lot of people and that would halved immediately to make bottom line positive. Furthermore liquid and non liquid assets are a nice juicy reason to come after this at this time.
It's usually a mercy takeout. A small premium over the going price and they take your shares. Dell was one where shareholders were upset when the announcement was made for a small premium.
You get taken out at the agreed terms.
"Zynga is another company that has more cash than it needs but has seen its market cap wiped out over the last few years. While Zynga is debt free, it has total cash of $1.07 billion and would be of great value to larger players with more innovation. With shares down an alarming 55.5% over the last two years, its market cap is currently at $1.94 billion and enterprise value at $880.19 million, exposing it to takeover threats."
Pink sounded defeated yesterday. This may be close to a quiet end. Takeover or taken private.
The problem is the management. They do not know how to extract value. This thing needs to be taken and package everyone out who has not been a contributor in adding value the past two years. The one in control will not let go. He thinks he can turn this around but he himself has no idea how to do it without a cook book roadmap. Don Matrick left a mobile development business with a repeatable process. The problem is lack of creativity and quality. For that you need visionary leadership who can execute a plan. Not here.
Garbage management do a better job. Over a year in testing, this means they had to rewrite most of the code. Garbage output from their premier purchased company. They have lost all credibility with investors. They have no shame. They knew the street would kill them with these results and they do not care. Aside from this being just a trade, it is not a long investment security. They need to take this out and let someone else run it with more strategic strength and vision. What a shame.
Pincus did say that but he has not executed it. If it is not shut down soon and give us a reason, then more proof that these guys talk from their behind with little data. It's been 3 qtrs since that announcement and football season is over.
Market following up on insider sell? ZNGA has reputation for leaking information. Will have to see if true again after closing tomorrow. I would say the last 2 hours should give us a better clue.
Well you must have more risk tolerance cause I won't go beyond 100 k shares on this. The most I ever placed here was 150k when it was in an uptrend towards $5 a couple of years ago. But after I cashed out and started to fall never went past 100. At times I even thinned out to 20k. Let's see how this trades tomorrow.
That would be the ultimate F$&k to investors. I would hope he has more grace and says he found a partner who will leverage buy the rest of the shares along with Zngas cash and privatize this POS. Maybe squeeze a little premium to relieve those who are underwater a bit.