Zynga: Don't Be Shaken Out
The recent downgrade by Sterne Agee on Zynga (NASDAQ: ZNGA ) apparently shook out many investors, considering that the company's stock plunged roughly 12% that day. The interesting news about the analyst report is that it provided virtually nothing in the way of news to investors who were paying attention.
Zynga continues to be a leading social gaming platform that is struggling to complete a turnaround under new CEO Don Mattrick. While Mattrick came to Zynga from Microsoft (NASDAQ: MSFT ) with a ton of promise, he has yet to place his stamp on the company. Zynga has coffers stuffed with $1.5 billion in cash and a strong lineup of game franchises, yet it hasn't done much to innovate in the last year. The company has recently made some moves, including agreeing to accept Bitcoins and releasing an interesting slots game, but investors expect much bigger things out of a heavy hitter like Mattrick.
Read the full article here.
Disclosure: Long ZNGA. Please review the disclaimer page for more details.