ZNGA- Buy or Sell Zynga stock?
Buy or Sell Zynga stock?
I’ve been a strong supporter of Zynga (ZNGA), the San Francisco based social game developer, although I violently opposed purchasing the stock at its IPO price of $10. As soon as Zyga hit the streets it quickly bolted to $11 dollars a share all the way to almost $15. Unfortunately for those who didn’t heed my warning the stock plummeted A few dear friends kept on buying it on the way down… at $7… $5… even $3 a share. I kept telling people that it would be a great investment but just not now.
“Then WHEN ??”
At $2.10 I sent out a BUY order through the news letter. Many skeptics refrained from jumping on the train. I can’t blame them. But today Zynga closed at $2.74. About a 30% jump.
If you have a portfolio I’d advise you get into Zynga. It has a rough road ahead but in my book it will be one of the biggest earners of 2013.
Buy or Sell Zynga stock? BUY
Update 2/7/2013: ZNGA – $3.09 a share