AS you know ZNGA is my sworn enemy. Back when I was working on my writeup, all the sell side and institutional assholes laughed at my idea of a short, they had $20-30 price points. Guess what GS, MS, and the rest, kiss my big white ass. So, this fucker dropped like a rock. How do you hire talent into a bullshit tech firm? (@TheDrBigBoss) By offering them stock options. Now, when said talent sees the share price fall as hard as it has, that talent leaves. Like this:
So what happens next? Well Pincus is a seriously crazy megalomaniac, that bought up a bunch of the preferred shares, when the lockup expired, thus giving him an egregious amount of voting power, the kind of shit that makes shareholders sue the fuck out of companies. Do I think they go out of business? Not necessarily, I think they get bought by FB, GOOG, or some other tech firm. If I was GOOG I might buy them, just to fuck with FB. The problem is getting Pincus out of there. Is he going to completely fuck his employees and shareholders? Or will he find some kind of rationality in his madness?
Fast forward to 1:30