Header Ads

Penny Stocks To Buy Or Sell Now: Zynga Inc. (ZNGA) $ZNGA

Is ZNGA A Penny Stock To Buy Or Sell This Month?

best penny stocks Zynga (ZNGA)It is a well-known fact that there is always the possibility of making enormous returns from investing in penny stocks. However, it’s far more difficult to actually find the right penny stocks to buy. Most of the companies which are considered as penny stocks are either too small or have been beaten down heavily from their previous highs.
Hence, it takes a lot of research, analysis, and knowledge of the market to figure out the best penny stocks to bet on. On that note, here is a look at one penny stock that could well turn out to be a multi-bagger in the fullness of time.

Penny Stocks To Buy (or Sell) Now: Zynga Inc. (ZNGA)

The company in question is Zynga Inc (ZNGA Stock Report). It remains one of the most recognizable mobile gaming companies in the world. Zynga has been in the industry since 2007 and has created such hits as Mafia Wars, Zynga Poker and Farmville among others. It had become one of the more valuable gaming companies and peaked in 2012. At the time it boasted of as many as 298 million monthly users.

However, things have not been the same since and now the company only has 70 million monthly users. Two years ago, the company appointed Frank Gibeau as the new Chief Executive Officer and his main brief was to engineer a turnaround.

Not Your Typical Penny Stock

It wasn’t that long ago since ZNGA stock was considered a penny stock trading below $5. But over the last 24 months, shares have rocketed as high as $6.65. The company has made some very interesting moves over the past year or so. In 2018, it acquired Gram Games.

Read More
Top 10 Penny Stocks On Robinhood To Watch For October 2019
Are Penny Stocks Worth It? 3 Up Big In October
How To Make Money With Penny Stocks

The company is one of the top game producers at the moment, in a $250 million deal. Considering the fact that Gram Games has such titles as Merge Dragons and others under its belt, it could prove to be a “game-changing” deal for Zynga. No pun intended.

penny stocks to buy or sell ZNGA
The other important deal was the 80% stake that Zynga picked up in the game developer Small Giant Games. Small Giant has plenty of high-value games in its portfolio like Empires & Puzzles. For instance, Empires and Puzzles alone brings in $19 million. This could help accelerate Zynga’s growth journey as well.

Mobile gaming is a segment that is likely to be far bigger in the years to come. With the launch of 5G services, it could turn into a huge business opportunity for Zynga. Therefore, Zynga could grow as well. Considering the fact that it has $1.3 billion worth of liquid assets, it can also continue to make acquisitions in order to fuel that growth.

* This article was originally published here

Transparent Traders Mentoship 
Program & Black Box Algo

No comments