Today we have seen that Bloomberg is talking about Zynga in a much worse light on the Money Moves features today. Expense per user is up, revenue growth per user is being shown as down, and revenue growth keeps contracting.
To show just how bad the moves have been, Zynga is down another 2.1% to $3.01 for a low on the day versus a post-IPO low of $2.97.
Facebook’s stock is down yet again by 1.6% to $23.33 and the question is boiling down to whether or not Facebook is setting itself up to challenge last week’s post-earnings and post-IPO low of $22.28. The analysts are not yet willing to defend it. That being said, until something changes there is just not a compelling story that Wall Street is buying yet.
The Global X Social Media Index ETF (NASDAQ: SOCL) is also down 1.45 at $12.29 on the trading day.
JON C. OGG
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