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ZNGA closed at $10.39 today, on a downward-day.
I see using Phil's Gang software that institutions are buying into ZNGA.
Of course that could change week to week, day to day.
I read that Cramer says no to ZNGA and on today's CNBC show this am, he said no, ZNGA up over $1.50 just today.
Im wondering when I should sell?
Could ZNGA go to $20 ?
I know Facebook and Zynga both earn money over each other but what puzzles me is how/why Facebook filing the IPO is causing Zynga rally.
People probably saw some favorable writeups of zynga in their S-1 and started buying:
If the use of Zynga games on our Platform declines, if Zynga launches games on or migrates games to competing platforms, or if we fail to maintain good relations with Zynga, we may lose Zynga as a significant Platform developer and our financial results may be adversely affected.
Revenue from one customer, Zynga, represented 12% of total revenue for the year ended December 31, 2011. No customer represented 10% or more of total revenue during the years ended December 31, 2009 or 2010.
Apps built by developers of social games, particularly Zynga, are currently responsible for substantially all of our revenue derived from Payments
I am planning to pick some March $11 Puts today. Any thoughts?
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