This afternoon word came down that Governor Christie signed the online poker bill into law, effectively bringing the game and its betting back to the internet. It’s long been speculated that Zynga would benefit immensely from the resurgence of online poker playing due to their existing community and platform. Forget all that Farmville macaroni. This is what the company is all about.
Leading into the event, players have been bidding the share price of ZNGA higher all year. RaginCajun and I have banked a great sum of coin in the name already. However, our coin pumping in ZNGA may have only been a first act. If this stock gets moving, it has lots of open air above.
The issue with important news events that affect a company is whether or not the decision has been baked into the share price. Often this is the case, and even when the outcome is favorable to what participants expect, the shares sell off. Therefore it’s important to define your risk, regardless of the positive news flow.
I like ZNGA down to three, but that does not mean I have a hard stop in place at $2.99. Instead I hone my attention into the stock as we near that price, look at how price behaves, and act accordingly. I added shares this afternoon on the initial announcement, but I’m fully aware of my risk. You have to ante up to see the flop, and I’m working with a big stack on this name.
You do not walk alone. I am 30k long. Even to off a dab on the position stop at 2.87.
quit buying these clown stock as the market is ready to implode
You sir are clearly without top hat.
May your children download the deepest darkest internet filth from your work computer. And like it.
Excellent Reply Sir Raul$