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Well the stock went from $3.40 pre halt to a low of $2.87 just after the reopen and seems to have settled around $3.10. That's not a great day but it could hav
by chollida1 13y ago
Well the stock went from $3.40 pre halt to a low of $2.87 just after the reopen and seems to have settled around $3.10.
That's not a great day but it could have been much worse. We'll see what happens going into the close but there seems to be a buy side imbalance currently.
- CanSpice 13y ago"...it could have been much worse." Yeah, you could have been laid off like 520 Zynga employees just were.
- greenyoda 13y agoPerversely, Wall Street sometimes reacts positively to layoffs since it's an indication that management has stopped deluding itself about the future prospects of the company and is making an attempt to pare down its losses. In real life, the company is going to try to get the same stuff done with 18% fewer employees by pressuring the surviving employees to work even longer hours, and the employees are going to start looking for jobs elsewhere.
- tg3 13y agoI think the Wall Street hope is that this means scaling back efforts on unsuccessful enterprises, and "doubling down" on successful areas. I don't think Zynga needed to be as big as it was anyway, so maybe this could be viewed as getting the business back to the correct size.
- lifeguard 13y agoDe-listing is inevitable at this point. I give them 2 quarters before they are a penny stock.