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Zynga Stock Drops Below IPO Price Within Minutes Of Breaking

Tyler Durden's picture





 

The IPO "flip" now has the same attention span as everything else in the market. After pricing its IPO at $10, and breaking well above, even hitting $11.50 momentarily, the stock is now trading at $9.51 and probably about to be halted within minutes of first seeing public trade. Another epic win for the GS-led underwriting syndicate. As a reminder - if Goldman is selling you something, don't buy it. And who could possibly think that virtual farms aren't real cashflow positive?

 


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Fri, 12/16/2011 - 12:20 | Link to Comment Hard1
Hard1's picture

Farmville Bitchezzzz!!!....Equity 400 MM Income $200 on their best year as that stupid game fades away.....Market cap 6.7 billion.   Management so desperate to cash in that they IPOed on the first market uptick of this month

Fri, 12/16/2011 - 12:22 | Link to Comment Pladizow
Pladizow's picture

If you are too blind to see that this type of activity marks the end of the ponzi, then you deserve what you get!

Fri, 12/16/2011 - 12:36 | Link to Comment Ahmeexnal
Ahmeexnal's picture

You read it first on ZH last week: much touted eurozone 26 country agreement falls to pieces as constitution in most of eurozone countries PROHIBITS transfering fiscal authority to a foreign entity. Merkel now accepts her defeat and claims "only 9 countries are needed for the ratification of the agreement".

http://www.marketwatch.com/story/only-nine-eu-states-needed-to-ratify-ne...

 

BOSTON (MarketWatch) -- Only nine of the European Union's 26 participating states will need to ratify a proposed new treaty in order for it to take effect, U.K. broadcaster Sky News reported Friday. According to Sky, EU officials are only requiring nine states out of concern that some nations would be unable to speedily ratify the document due their own particular constitutional and legal issues. The new treaty, aimed at shoring up confidence in the euro and the capital markets, calls for tighter fiscal controls among member states in response to the ongoing European sovereign debt crisis.

Fri, 12/16/2011 - 12:45 | Link to Comment Oh regional Indian
Oh regional Indian's picture

OT, perhaps it should have been named Zingggggg....ahhhhhh! Names are important, surprised they did not see it coming. 

That IPO is going to be a Zinger. Quite an un-imaginative company anyways, from a gaming pursepective too. 

Somebody somewhere is making a lot of money on this. I wonder who and how.

ori

/this-that-and-the-4th-reich/

Fri, 12/16/2011 - 12:30 | Link to Comment fonestar
fonestar's picture

I'm thirty-three and I never would have imagined that we could have dot.com bubble 2.0 already!  People need to wake up and realize that the total sum value of all the internet, all the marketing schemes, all the social media, all the add-sense, all the micropayments is only worth $0.

The public internet is the greatest triumph of modern communications and engineering and it is nominally worthless.

Fri, 12/16/2011 - 17:40 | Link to Comment countupir
countupir's picture

I almost agree.  I would say the internet is priceless.  There is money is in the infrastructure and maintaining this communication.  No real money trading virtual goods.  The ones who trade real goods have made a good business online.

Fri, 12/16/2011 - 12:50 | Link to Comment flattrader
flattrader's picture

>>>If you are too blind to see that this type of activity marks the end of the ponzi, then you deserve what you get!<<<

Yep.  This is definitely a pets.com moment.

Fri, 12/16/2011 - 12:27 | Link to Comment Rhone_Ranger
Rhone_Ranger's picture

I want an angry birds IPO!

Fri, 12/16/2011 - 12:35 | Link to Comment Pladizow
Pladizow's picture

Golman has already valued it at a Gabazillion dollars!

Fri, 12/16/2011 - 12:54 | Link to Comment bonddude
bonddude's picture

Pincus is a genius. Just ask him.

"You better gimme that stock back !!!" hahahaha

Fri, 12/16/2011 - 12:57 | Link to Comment bonddude
bonddude's picture

Pincus to employees-

"we have provided you with a cafeteria and sports bar. You never have to leave. ROW WELL AND LIVE !"

Fri, 12/16/2011 - 12:20 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Zingar in portorican, venezuelan and many other LatAm countries means....

Fri, 12/16/2011 - 12:21 | Link to Comment Hard1
Hard1's picture

Zynga tu madre!

Fri, 12/16/2011 - 12:23 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Aaaaaaaaaaaaand we have a winner.

Fri, 12/16/2011 - 12:20 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

I'm shorting already...

Fri, 12/16/2011 - 12:22 | Link to Comment Hard1
Hard1's picture

I tried, not marginable yet!!

Fri, 12/16/2011 - 12:21 | Link to Comment oogs66
oogs66's picture

Lol

Fri, 12/16/2011 - 12:22 | Link to Comment Spastica Rex
Spastica Rex's picture

Zynga was an up-and-coming tech company, then they took an arrow to the knee.

Fri, 12/16/2011 - 12:27 | Link to Comment Tortfeasor
Tortfeasor's picture

You have contracted dysentary.

Fri, 12/16/2011 - 12:29 | Link to Comment NotApplicable
NotApplicable's picture

If they could find a way to monetize those clicks, they'd have it made. My wife goes through mice quick, though luckily she's becoming a professional Scrabble player. Now, if she can only find a sponsor...

Fri, 12/16/2011 - 17:44 | Link to Comment countupir
countupir's picture

I think she found one.  Why do you think she got married?

Fri, 12/16/2011 - 12:23 | Link to Comment pq7
pq7's picture

Isn't GS preparing the Facebook IPO?.......

Fri, 12/16/2011 - 12:24 | Link to Comment Mark123
Mark123's picture

Check out 10 year bond....yield is collapsing!  And stock market rising.

Fri, 12/16/2011 - 12:37 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Yeah, check out the VIX.  Looks like we close in the Red or flat.

Fri, 12/16/2011 - 12:41 | Link to Comment Boston
Boston's picture

Yup. One of these two markets is dead wrong. Something tells me it's not Treasuries.

Fri, 12/16/2011 - 12:48 | Link to Comment CvlDobd
CvlDobd's picture

I disagree somewhat. TNX is most likely correct.

The Vix is just showing bulls are asleep at the wheel. It seems they aren't buying protection or shorting which could be in the next leg down for us bears.

Fri, 12/16/2011 - 12:24 | Link to Comment JJSF
JJSF's picture

GRPN will make you more on the short side. Buy yeah...this whole batch of LNKD, GRPN, ZYNGA etc is a godsend.

 

Fri, 12/16/2011 - 12:24 | Link to Comment homer8043
homer8043's picture

When I compared the $8.7B market cap to ERTS at $6.9B, no further analysis was needed to know that this was all kinds of silly.

Plus all the games are suck job wastes of time.

Fri, 12/16/2011 - 12:35 | Link to Comment Mark123
Mark123's picture

But Chinese like to gamble, so this company is worth billions.  (this is highly technical analyis, so don't worry if you don't understand)

Fri, 12/16/2011 - 12:46 | Link to Comment homer8043
homer8043's picture

I'm pretty sure that was sarc. If not, there are plenty of non-corrupt internet gambling companies that have been booted off of US shores by Congress. Zynga is not one of them.

Fri, 12/16/2011 - 12:54 | Link to Comment flattrader
flattrader's picture

The Chinese make their prisoners work during the day at slave labor manufacturing jobs and at night earning on-line gaming credtis for sale to idiot Americans who don't have anything better to do with their money than buy credits to play a free game.

Fri, 12/16/2011 - 12:24 | Link to Comment Zola
Zola's picture

I am outraged at all the clueless morons buying this crap and other tech rubbish while real money and miners are getting blowtorched. Epic misallocation of capital.

Fri, 12/16/2011 - 12:46 | Link to Comment scatterbrains
scatterbrains's picture

Isn't that just DTCC induced naked shorting to suppress price ?

IF these crooks ever lose their grip on the strings I can imagine the most spectacular rise in gold/silver the world has ever known.

Fri, 12/16/2011 - 13:10 | Link to Comment Seize Mars
Seize Mars's picture

I am outraged at all the clueless morons buying this crap and other tech rubbish while real money and miners are getting blowtorched. Epic misallocation of capital.

Correct. That is what the whole paper money fiasco machine is designed for. It's designed to get people to misallocate capital. The Austrians call it "malinvestment." 

It means that making money is a function of connections; if you are connected, you have access to capital. Forget that it's possible to make money rebuilding the roads in my town. That won't get funded. However, DrKoop.com, er, excuse me I meant Zynga, no problem.

It's a waste of time, a waste of money, but most importantly a waste of peoples' lives. Imagine how many people are tied to this stinking / sinking ship, accounting, back office, sales, whatever, all of whom could be leading happy, productive - and profitable - lives, but they are enslaved to the paper ShitShow. Zynga. Nice.

Thank you, Rockefeller, thank you Warburg, thank you especially Senator Aldrich, you shitbag. All of you. Thanks.

Fri, 12/16/2011 - 14:52 | Link to Comment walküre
walküre's picture

It's a waste of time, a waste of money, but most importantly a waste of peoples' lives. Imagine how many people are tied to this stinking / sinking ship, accounting, back office, sales, whatever, all of whom could be leading happy, productive - and profitable - lives, but they are enslaved to the paper ShitShow

 

Very good perspective. But WHO is going to stop the madness and WHO is going to stop THEM before we all end up in the crapper?

We are going downhill fast. So much for "evolution".

Fri, 12/16/2011 - 15:17 | Link to Comment Sokhmate
Sokhmate's picture

i could not give you a green arrow!! even though I wanted to. Here is +1.

Fri, 12/16/2011 - 12:25 | Link to Comment Dr. Engali
Dr. Engali's picture

Wow! Who'd thunk it? I crappy overvalued Internet IPO dropping below it's offering price. Does this mean people are looking at fundementals finally? Somehow I doubt it.

Fri, 12/16/2011 - 12:25 | Link to Comment OpenEyes
OpenEyes's picture

It's truly amazing that GS consistantly 'offers' their clients so many pieces of shit that, at a later date it becomes known, they themselves had so many bets against.  Almost as if they view their own clients as sheep to be sheared.  Well, actually, that's all very understandable considering the vampiric, immoral, and criminal source that is GS.  I guess what's amazing to me is that their clients continually fall for it!  I mean, they convince their clients time and time again to buy into the crap that they're selling and then it comes to light, time and time again, that GS themselves were heavily loaded up against the very thing that they were touting as a great investment just days or weeks before.  So, they make money on both ends, commissions selling you the shit and huge profits from betting against the very same shit!

 

Fri, 12/16/2011 - 12:26 | Link to Comment MountainGreenhouse
MountainGreenhouse's picture

I don't see why everyone have such a problem with this company?  They make a product people want, and they seem to do it pretty damn well.  Have you seen how many people are addicted to these facebook games and how they blow money getting extra virtual perks in the "free" game.  Unlike most of the other tech IPO's I personally think this one might actually be worthwhile.... at least until the market goes boom.

Fri, 12/16/2011 - 13:00 | Link to Comment williambanzai7
williambanzai7's picture

Take a look and decide if something like this deserves the valuation it received in this market.

Looks like another pump and dump.

Fri, 12/16/2011 - 14:32 | Link to Comment pods
pods's picture

Can you still buy shares in the pet rock company?

Now we just have virtual pet rocks.  Or virtual gardens.  

Well when shit goes south maybe they can virtually eat their virtual food?

One saying to live by:

"Never underestimate the power of stupid!"

pods

Fri, 12/16/2011 - 12:26 | Link to Comment MountainGreenhouse
MountainGreenhouse's picture

Double post sorry

Fri, 12/16/2011 - 12:26 | Link to Comment JJSF
JJSF's picture

Check out Zynga's Alexa ranking. Web traffic down every month since mid 2010 except for the last two months..probably due to ipo hype. They did this ipo just in time to pull a big pay day...lots will get fleeced on this one. Seeing lots of twitter folks with names like "Dentist101" etc dropping their savings into this thing today...

Fri, 12/16/2011 - 13:12 | Link to Comment TheHillrat
TheHillrat's picture

Yeah! someone finally knows what an Alexa ranking is, Page Rank, BackLinks etc. Domaining is better than picking stocks because you don't have the Bernake to mess with your traffic. Just google. 

Fri, 12/16/2011 - 12:28 | Link to Comment sabra1
sabra1's picture

zynga lobbies insider politicians, insiders get in high, short immediatly, make lotsa money for the holidays. meanwhile, the sheeple will be suckin' shit thru a straw! but all is not lost, for my storage locker is full to capacity with rope and noose! lamp post ornaments, here we come!!!

Fri, 12/16/2011 - 12:35 | Link to Comment SheepDog-One
SheepDog-One's picture

Well youll love this one, right on cue for war hype-up heres a group of dual-citizenship lawyers and judge that has ruled IRAN...yes IRAN...is now responsible for 9-11 false flag! Can ya believe it!

Judge FALSELY Rules Iran Connected To The Zionist False Flag Attack on 911 - YouTube

Fri, 12/16/2011 - 14:34 | Link to Comment pods
pods's picture

So do we have to apologize to Iraq for bringing them democracy?

Or afghanistan for replanting their opium?

pods

Fri, 12/16/2011 - 22:26 | Link to Comment StychoKiller
StychoKiller's picture

Hmm, I'm sure Pakistan positively luvved all those wedding party "noisemakers!"  :>D

Fri, 12/16/2011 - 12:28 | Link to Comment homer8043
homer8043's picture

I'm still waiting for the greatest short of our time to make it to market, Facebook. Probably going to be too late or at a greatly reduced valuation that reduces the shortability somewhat.

Fri, 12/16/2011 - 12:30 | Link to Comment Dr. Engali
Dr. Engali's picture

Poor whales don't get a pop so they can offload their crap on some unsuspecting minnow.

Fri, 12/16/2011 - 12:31 | Link to Comment YesWeKahn
YesWeKahn's picture

They will all trade at 30c in about 2 years.

Fri, 12/16/2011 - 12:43 | Link to Comment Boston
Boston's picture

More like 6 months.

Fri, 12/16/2011 - 12:31 | Link to Comment G_T_A_44
G_T_A_44's picture

"and probably about to be halted within minutes of first seeing public trade."

 

Priceless

Fri, 12/16/2011 - 12:32 | Link to Comment YouGottaBeKidding
YouGottaBeKidding's picture

I can't help but think of the game "Jenga" being like Zynga. 

The winner is the one who takes the most pieces out before the whole thing collapses. LOL

Fri, 12/16/2011 - 12:32 | Link to Comment SheepDog-One
SheepDog-One's picture

Hillarious! Market makers reduced to pump n short IPO's to make any scratch at all. 

Fri, 12/16/2011 - 12:48 | Link to Comment jay28elle
jay28elle's picture

...and people continue to fall for such things.  Amazing, simply amazing.

Fri, 12/16/2011 - 12:32 | Link to Comment Vincent Vega
Vincent Vega's picture

Zimberrrrr! 

Fri, 12/16/2011 - 12:32 | Link to Comment i love cholas
i love cholas's picture

How the fuck does this company make money? Lemme guess...ADVERTISEMENTS!

Fri, 12/16/2011 - 12:36 | Link to Comment SheepDog-One
SheepDog-One's picture

'Eyeball-counts'....same shit as the Dot.Com nonsense.

Fri, 12/16/2011 - 12:34 | Link to Comment stocktivity
stocktivity's picture

The GS insiders have already sold at a profit.

Fri, 12/16/2011 - 12:34 | Link to Comment jay28elle
jay28elle's picture

moooo, mooooo.  baaaaa, baaaaaa.

{BANG!!!!}

No more, no more.

Fri, 12/16/2011 - 12:37 | Link to Comment williambanzai7
williambanzai7's picture

ZYNGA LAUNCH

Fri, 12/16/2011 - 13:40 | Link to Comment NumberNone
NumberNone's picture

You're a genius but on this one you should have used the dog logo in the left hand corner but had the stock price going downward from its ass.  Turd on end would be a bonus. 

Fri, 12/16/2011 - 15:42 | Link to Comment williambanzai7
williambanzai7's picture

I opted for the dead dog with the price coming out of it's ass ;-)

Fri, 12/16/2011 - 12:37 | Link to Comment Jon Valjon
Jon Valjon's picture

GS to investors: Bazynga!

Fri, 12/16/2011 - 12:43 | Link to Comment kito
kito's picture

but my broker told me farming was the future, and that zynga was the best farming play out there!!???? what went wrong!???? 

Fri, 12/16/2011 - 12:48 | Link to Comment MayerRothschild
MayerRothschild's picture

They will make money by paying shareholders in zynga dollars...

One funny money for another

Fri, 12/16/2011 - 12:49 | Link to Comment navy62802
navy62802's picture

why would trading be halted?

Fri, 12/16/2011 - 12:51 | Link to Comment rumblefish
rumblefish's picture

how does zynga make Money?

I play words with friends and I see no advertising and if memory serves, the app was free.

Fri, 12/16/2011 - 12:51 | Link to Comment Fix It Again Timmy
Fix It Again Timmy's picture

Hey baby, do ya wanna Zynga?

Fri, 12/16/2011 - 15:28 | Link to Comment Sokhmate
Sokhmate's picture

I'll show you my zynga if you show me your Volvo

Fri, 12/16/2011 - 12:52 | Link to Comment freemarketfantasy
freemarketfantasy's picture

Zynga's executives are morally bankrupt... forcing employees to give back stock options pre-ipo or fire them if they don't(1).  Now the assholes are billionaires just like most morally bankrupt asshat executives in America.  They said they were trying to avoid a "google chef" scenario... because assholes are the only people that deserve to be independently wealthy in the eyes of the Zynga executives... not the "little people".

"I did every horrible thing in the book just to get revenues"(2) said Mark Pincus, CEO of Zynga... referencing their scammy offers and malware toolbar installs that gave the company it's initial revenue.

I hope this company crashes and burns and these assholes lose thier shirts.

 

(1)http://www.itworld.com/it-managementstrategy/223393/zynga-stock-options-...

(2)http://techcrunch.com/2009/11/06/zynga-scamville-mark-pinkus-faceboo/

 

Fri, 12/16/2011 - 12:59 | Link to Comment NumberNone
NumberNone's picture

Not only that the price point they gave them shares were $14 and above...ouch!  Anyone needing to hire developers?  I would start poaching Zynga today.

Investors and employees in particular will be banking on Zynga’s price to pop tomorrow. Earlier this year, the company sold shares to investors for $14, roughly 30 percent higher than the $10 price. Some employees’ stock options are rumored to be issued at even higher prices.

The worst-case scenario is that the stock falls. In November, Groupon’s shares jumped by 40 percent on its first day of trading, increasing to as much as $30 from its intial $20 pricing. But by the end of the day, it settled down at $26, and in subsequent weeks, fell to as low as $15.

http://allthingsd.com/20111215/zynga-confirms-its-billion-dollar-public-offering/?reflink=ATD_yahoo_ticker 

Fri, 12/16/2011 - 14:06 | Link to Comment dark pools of soros
dark pools of soros's picture

bingo..' Some employees’ stock options are rumored to be issued at even higher prices.'

 

that is the whole point of putting the stock out at $10 since the rumor was that all the developers were going to jump ship ASAP from the psychotic working conditions there..  and the CEO giving himself 70-1 voting rights shows you how far he goes for total control

Fri, 12/16/2011 - 16:27 | Link to Comment walküre
walküre's picture

the employees had free trading stock at the IPO?

SEC.. hello!!!

Fri, 12/16/2011 - 12:53 | Link to Comment Amused2Death
Amused2Death's picture

Zynga is a joke, $1 stock at best.  All its business fundamentals have been in decline and they're giving it a $9 billion market valuation? 

Fri, 12/16/2011 - 12:58 | Link to Comment Scalaris
Scalaris's picture

One billion dollar IPO for a company who makes a virtual farmer game, based on a 30% revenue from its sole platform that is facebook.

It'd be quite ironic if all those early investors take the majority of their investment and start buying real farm land. No?

From the bright side, all these zombiefied morons who waste hours upon hours on this stupidity, will hopefully -and subconsciously- remember something when the only work they can find in the near future, is in some farm cultivating chickens or butchering corn that isn't made of pixels.   

 

Fri, 12/16/2011 - 13:04 | Link to Comment GMadScientist
GMadScientist's picture

<YOURFRIEND> needs <NUMBER> <OBJECTS> to get an <OTHER OBJECT>.

 

<YOURFRIEND> GS

<NUMBER> millions

<OBJECTS> shares sold

<OTHER OBJECT> bonus.

Fri, 12/16/2011 - 13:06 | Link to Comment nyse
nyse's picture

I am Jack's complete lack of surprise.

Fri, 12/16/2011 - 13:11 | Link to Comment cocoablini
cocoablini's picture

I was expecting a longer pump and dump- clearly the deleveraging in the general market has people running to dollars the minute they can. Like LinkedIn, a 2 week retarded bot blast and then selling. Goldman must have zero confidence

Fri, 12/16/2011 - 13:24 | Link to Comment catacl1sm
catacl1sm's picture

You could short the 'Social Media' ETF. SOCL. Might be a real good play before the FB IPO.

Fri, 12/16/2011 - 13:26 | Link to Comment AlaricBalth
AlaricBalth's picture

From Zynga's S-1:

 

We rely on a small percentage of our players for nearly all of our revenue.

 

A small percentage of our players account for nearly all of our revenue. We lose paying players in the ordinary course of business. In order to sustain our revenue levels, we must attract new paying players or increase the amount our players pay. To retain paying players, we must devote significant resources so that the games they play retain their interest and attract them to our other games. If we fail to grow or sustain the number of our paying players, or if the rate at which we add paying players declines or if the average amount our paying players pay declines, our business may not grow, our financial results will suffer, and our stock price may decline.

 

 

Fri, 12/16/2011 - 14:03 | Link to Comment dark pools of soros
dark pools of soros's picture

the majority of the players just dick around with the games with their long lost relatives that they never get to visit to 'stay in touch' without having to actually talk to them

those games are only great when you are bedridden on meds from major surgery...  

Fri, 12/16/2011 - 13:45 | Link to Comment YouGottaBeKidding
YouGottaBeKidding's picture

"If we fail to grow or sustain the number of our paying players, or if the rate at which we add paying players declines or if the average amount our paying players pay declines, our business may not grow, our financial results will suffer, and our stock price may decline."

Oops! It appears you failed already.  $9.69 going once, going twice...do I hear $9.68?

Anyone?  Bueller?

 

Fri, 12/16/2011 - 14:11 | Link to Comment AlaricBalth
AlaricBalth's picture

How about shorting ZNGA here and upon settlement, using Farmville Cash (FV) to meet my margin requirement. Or, according to Farmville, I can fill out marketing surveys to generate FV and upon completion perhaps Farmville can directly credit my E-Trade account.

Fri, 12/16/2011 - 13:46 | Link to Comment pq7
pq7's picture

BREAKING NEWS: Zynga introduces StockVille, where one can farm Zynga stocks to sell on NASDAQ. 

Fri, 12/16/2011 - 13:57 | Link to Comment UGrev
UGrev's picture

Cheese Doodle stocks.. that's what I call them; because they're mostly filled with air and taste like shit after the first bite. 

Fri, 12/16/2011 - 14:01 | Link to Comment ParaZite
ParaZite's picture

Zynga's price didn't drop... everyone just started using groupons to buy it at a discounted rate. 

Hooray IPO's!

 

Fri, 12/16/2011 - 15:11 | Link to Comment pq7
pq7's picture

Should I expect a 50% discount then? ;)

Fri, 12/16/2011 - 22:32 | Link to Comment StychoKiller
StychoKiller's picture

Good things (and bad!) come to those who wait...

Fri, 12/16/2011 - 14:54 | Link to Comment walküre
walküre's picture

The Big Boyz are getting desperate. Pumping and dumping like cowboys now? They don't even try to run up the stock first?

 

Fri, 12/16/2011 - 15:02 | Link to Comment dracos_ghost
dracos_ghost's picture

Yup, there's a global liquidity problem my ass. This joke of a company can snap up 6.5B in real dollars, not farm bucks, but the sovereigns can't  find any money. BS -- it's all social engineering. There is going to be some coal in some pension fund accounts this year with this bad boy.

Maybe it's the catchy name. I guess I'm going to push a new company to IPO -- PullMyFinga.

Fri, 12/16/2011 - 15:04 | Link to Comment redux2redux
redux2redux's picture

Who would buy this, you would have to be major delusional!

 

Symbol should have been Zzzz.

 

 

Fri, 12/16/2011 - 15:28 | Link to Comment rosebud
rosebud's picture

Last March I went to the zynga poker convention at the Palms. It was a great deal, poker instructions all day with lunch and dinner with an open bar  plenty of poker celebs etc. The next day a  poker tournament that the local pros bought into. The winner I think made 14 grand in 5 way chopped pot.

 I am hoping they do it again, most of the people who showed up were donks like myself and fit the "type" home alone playing zynga games, we were the fish for the pro's that took over the top spots in the tournament.  The poker instructiion was good- they hired a lot of local poker pros to sit in and play hands and give us  tips, kind of like a golf pro am.

The people from Zynga  worked hard and they all pitched in to get the thing working, I was impressed by the way the brass helped out setting up the tables etc. I would guess they lost a lot of money putting on this show with all the poker celebrities  and there were pretty big names there.There was only 200 of us there at $150 for the weekend so they were way in the red on this.

The poker on zynga can be really bad  and it can be really bad . I play the high end sit n go's  and if you get to the final 3 and get into the heads up play  you can learn a lot, I won a $250 heads up match on my merge site and I attribute that to my zynga experience.   

I have bought chips from them but I dont seem to lose them  but if you look at the profiles  you'll see about 80 percent lose chips on there  so they must make money on the chips. 

If you hear of another zynga convention jump on it, the buy in at $150  is worth it  if you're good in poker because first place is $27,000.

Fri, 12/16/2011 - 20:16 | Link to Comment swani
swani's picture

Clueless morons need to stuff to buy. 

Sat, 12/17/2011 - 00:49 | Link to Comment Godisanhftbot
Godisanhftbot's picture

 The valuations on these RIDICULOUS companies is nauseating.

 This at 10 billion when FFN is trading at nothing.

 

 lol

 

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