Friday, December 16, 2011

Got Some Zynga, but...

It looks like the Zynga (Ticker: ZNGA) IPO turned into a dud. I was allocated a few shares, but the stock quickly dropped below its offering price of $10 per share. I sold my shares in Zynga at $10. My initial plan was to flip it for a quick profit, but that plan quickly changed. The valuation in Zynga is just too high for this market environment.


At January 04, 2012, Anonymous Financial Adviser Sydney said...

Looks like Zynga IPO marked the top in the market, so selling out probably saved you money

At January 06, 2012, Blogger Money Turtle said...

Thanks for the comment... I don't see this as a top, but rather a somewhat bullish signal as it shows that there are some fear in the market.


Post a Comment

<< Home