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Is Zynga (NASDAQ: ZNGA) Finally on the Mend?Miami, FL, Feb 14, 2013 (eTeligis.com via COMTEX) Social media is like a virus; it's fast growing, furious and impossible to ignore. And now, like a virus, social media company Zynga (NASDAQ:ZNGA) may finally be contagious. No one can dispute that it's been a rough road for the company since its IPO at the end of 2011. Then, it was one of the most highly touted new kids on the block. The San Francisco-based company had managed to raise an astounding $1 billion dollars in the biggest Internet company debut on Wall Street since Google Inc. (NASDAQ:GOOG). Zynga priced its initial public offering at $10 per share and the world looked rosy for the creator of such games as Words With Friends and Farmville. That was in December of 2011. By January things had begun to go horribly wrong. In fact, shares which had traded of a high of $15.91 began a slow, inexorable slide until finally bottoming out at $2.09. As investors clutched their chests in dismay and the company hung its head in shame, the finger pointing began in earnest. The IPO was over-priced. Zynga should never have gone public. It was all Facebook's (NASDAQ:FB) fault. The laundry list went on and on. But now the company appears to be taking advantage of a potential niche. Shares got a substantial boost (almost 11 percent) last Friday as the specter of an online gaming bill was revived in New Jersey. According to Reuters, New Jersey Governor Chris Christie initially vetoed the Internet gaming bill, but has now asked for the bill, with revisions, to cross his desk once more. As long as the bill meets the revision requirements, the governor has indicated that he will sign it. This will open a market for real-money Internet gaming that could net upwards of $1 billion. So far, Zynga's real-money gaming has been largely confined to the United Kingdom where laws are more lax. The company has applied for a gaming license in Nevada and now, depending upon Christie, the company will undoubtedly target New Jersey. Investors are hoping that Zynga will get its foot in the door of the online casino market in the U.S., which has the potential to garner huge revenues and nice returns for shareholders. Zynga is determined not to disappoint them. As of today Zynga has a market cap of $2.69 billion and shares are trading at $3.42. Here's hoping that things continue to improve for the struggling company. NEW: Feature your company on EmergingGrowth.com. Find out how by filling out our referral form herehttp://emerginggrowth.com/recommend-a-company-to-feature-on-emerging-growth About EmergingGrowth.com By offering 100% original and unmatched content by the best financial reporters, writers and bloggers in the business, EmergingGrowth.com is emerging as a leading digital financial media portal. Its services provide users, subscribers and advertisers with a variety of content and tools through a range of online, social media, mobile and other mobile outlets. Since its inception, EmergingGrowth.com has distinguished itself from other financial media companies with its sly approach to reading between the lines in order to locate that needle in the haystack. Sign up today to see what EmergingGrowth.com has to offer. Contact: [email protected] Join our Linked in Grouphttp://www.linkedin.com/groups/ gid=4650356&trk=hb_side_g Like us on Facebook... http://www.facebook.com/pages/EmergingGrowthcom/474647062557938 Disclosure All information contained herein as well as on the EmergingGrowth.com website is obtained from sources believed to be reliable but not guaranteed to be accurate or all-inclusive. All material is for informational purposes only, is only the opinion of EmergingGrowth.com and should not be construed as an offer or solicitation to buy or sell securities. In addition, Please make sure you read and understand the Terms of Use, Privacy Policy and the Disclosure posted on the EmergingGrowth.com website. Always remember that investing in securities such as the ones listed within are for high-risk tolerant individuals only and not the general public. Whether you are an experienced investor or not, you should always consult with a stockbroker, financial advisor, or similar before purchasing or selling any securities viewed on any emails sent from EmergingGrowth.com or its website. Source: EmergingGrowth.com Associated Documentation:Link to submission on http://www.eteligis.comEmergingGrowth.com_2-14-13_MEL_ETL_2.docx |