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In Play: Virtual Farm-Backstopped Default Delay Securities Launched After Zynga Implodes

Tyler Durden's picture




 

UPDATE: ZNGA is down 40% now, trading with a $2 handle

They said it could never happen. They said it was social, mobile, everything... Well, oops... It seems the drought conditions around the world have hit the virtual farms too. Let it 'Virtual Rain'

  • *ZYNGA 2Q REV. $322.5M, EST. $343.1M                 
  • *ZYNGA 2Q ADJ. EPS 1C, EST. 6C                        
  • *ZNGA SEES YR EPS ADJ 4C-9C, SAW 23C-29C, EST. 27C   

and with that 33% 40% of market cap is wiped away... and the derivative play - Facebook is down 7% after-hours and EURUSD is dipping as all that virtual cash is vaporized (yes seriously EURUSD is dropping!). We assume that very soon, congressmen around the country will be calling for a government intervention as the hand-of-god impacts these poor virtual farmers. FYI - Margin Stanley is the largest ZNGA holder at 13.84%.

 

and since the IPO...

Finally, as a reminder, ZNGA priced its follow on on March 28 at $12.00,
three months after IPOing. Morgan Stanley made money on both events.
Will MS now also be the advisor on the firm's eventual Chapter filing?
Too bad there are no assets to liquidate, unless of course DIP lenders
accept virtual stuff for LTV calculations. 

 

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Wed, 07/25/2012 - 16:43 | 2650710 hedgeless_horseman
hedgeless_horseman's picture

 

 

I felt a great disturbance in the Farce, as if thousands of Menlo Park citizens cried out in terror and were suddenly silenced. I fear something terrible has happened.

FB crushed in after hours. -2.22%

Wed, 07/25/2012 - 16:44 | 2650734 HoofHearted
HoofHearted's picture

"I only want to see you standing in the virtual rain. Virtual rain, virtual rain...."

Back when he was known as Prince before he was Symbolman before he was Prince again...

Wed, 07/25/2012 - 16:53 | 2650774 TruthInSunshine
TruthInSunshine's picture

Virtual rain, such a timeless classic...

 

Hey, are the virtual regulators going to force the actual TBTF banks to take any virtual haircuts the next time they receive actual bailouts again?

Wed, 07/25/2012 - 16:57 | 2650791 Precious
Precious's picture

Twitter will save them.

Wed, 07/25/2012 - 17:27 | 2650925 fonestar
fonestar's picture

Gimmick 2.0

Wed, 07/25/2012 - 18:01 | 2651069 billsykes
billsykes's picture

Aw look, groupon and Zynga are tracking down together, isnt that cute, shit does sink to the bottom.

Wed, 07/25/2012 - 18:18 | 2651123 AldousHuxley
AldousHuxley's picture

Zynga's founder (ex-bankster) asks for bailout of his virtual farm foreclosures.

Wed, 07/25/2012 - 19:12 | 2651259 Tippoo Sultan
Tippoo Sultan's picture

The flames from this particular roach motel inferno are licking at the heels of the usual institutional arthropods: Capital Research, Federated, Morgan Stanley, and that perennial mo-mo whipping boy, Fidelity.

Wed, 07/25/2012 - 21:06 | 2651590 malikai
malikai's picture

Yep. Those floaters just need a little time for the gas to come out.

Wed, 07/25/2012 - 19:12 | 2650987 John Law Lives
John Law Lives's picture

Since you mentioned Prince, I couldn't resist posting this.  This song is a cover of 'Raspberry Beret' as sung by Warren Zevon + 3 former members of REM.  This is awesome (much better than Prince's version - imho)...

Crank it up!

http://www.youtube.com/watch?v=WNCcemZ3CkE

Wed, 07/25/2012 - 19:24 | 2651304 Tippoo Sultan
Tippoo Sultan's picture

"Dirty Mind" was Prince's last worthwhile LP...

http://1.bp.blogspot.com/-KdCxPlKNH_8/T_oRJHoWTNI/AAAAAAAABY0/JHlFK1CVWu...

Once he embarked upon his sanitized movie/soundtrack odyssey, it was frankly all downhill from there.

Wed, 07/25/2012 - 16:47 | 2650755 Frederic Bastiat
Frederic Bastiat's picture

hahahah, hedgeless that was one of the best comments I've ever seen on here. 

Wed, 07/25/2012 - 16:57 | 2650792 williambanzai7
williambanzai7's picture

ZYNGA

Wed, 07/25/2012 - 17:07 | 2650842 ebworthen
ebworthen's picture

"Ruh roh Raggy!"

Wed, 07/25/2012 - 17:27 | 2650927 The Limerick King
The Limerick King's picture

 

 

Zynga is facing a drought

Their future is surely in doubt

Their online manure

Has lost its allure

And Farcebook is facing a rout 

Wed, 07/25/2012 - 18:20 | 2651127 AldousHuxley
AldousHuxley's picture

don't invest in any startup featuring dogs headed by ex-bankster

 

Wed, 07/25/2012 - 18:55 | 2651225 TruthInSunshine
TruthInSunshine's picture

Limerick King is in the house.

Time to break out the finest champagne (ala LIBORlicious) and get this party started.

Wed, 07/25/2012 - 20:40 | 2651524 The Limerick King
The Limerick King's picture

Thanks Truth...I know I haven't been posting much the last few months, but my heart is always at the Hedge!

Wed, 07/25/2012 - 17:57 | 2651051 billsykes
billsykes's picture

After all Zynga only lost 478m net against 90m profit in the last 4 years. But still valued at 3.74 Billion?

I smell a big bonus for all the insiders via a big steaming pile of debentures very soon.

 

 

 

Thu, 07/26/2012 - 01:04 | 2652117 SoCalBusted
Wed, 07/25/2012 - 17:03 | 2650825 DormRoom
DormRoom's picture

Groupon is next.. web 2.Oh my god, what a pump n dump.

Wed, 07/25/2012 - 18:34 | 2651168 AldousHuxley
AldousHuxley's picture

greedy never learn

Wed, 07/25/2012 - 21:16 | 2651620 Muppet of the U...
Muppet of the Universe's picture

DON'T BE STUPID. BTFD.  ZYNGA IS AT THE PERFECT BUY RIGHT NOW! 

Disclosure:  Short Znga 500,000,000 shares.

Wed, 07/25/2012 - 17:14 | 2650859 ebworthen
ebworthen's picture

Hedgeless Horseman said:  "as if thousands of Menlo Park citizens cried out in terror and were suddenly silenced."

LOL

Watching Chipotle and Green Mountain Coffee crash were almost as enjoyable.

When the hoity-toits can't afford Whole Foods anymore that one will be really fun to watch get monkey-hammered.

Wed, 07/25/2012 - 23:52 | 2652013 natty light
natty light's picture

Will Pandora's Box be opening soon?

Wed, 07/25/2012 - 17:22 | 2650901 Winston Churchill
Winston Churchill's picture

Or even:

I felt a great disturbance in the Bourse today.

Wed, 07/25/2012 - 20:09 | 2651434 ZeroAvatar
ZeroAvatar's picture

Obi-Wan Hollande, you are our only hope.  Obi-Wan Hollande, ................

Wed, 07/25/2012 - 17:31 | 2650939 LeisureSmith
LeisureSmith's picture

Well, Facebook is down 8 pct. and i am drunk. Happy times.

Wed, 07/25/2012 - 17:51 | 2651028 Wakanda
Wakanda's picture

Trust the Farce Luke.

Wed, 07/25/2012 - 20:10 | 2651439 ZeroAvatar
ZeroAvatar's picture

(Voice of Darth Vader)  "Let him go, STAY on the Leader".

Thu, 07/26/2012 - 04:37 | 2652269 StychoKiller
StychoKiller's picture

The Dept of Cyber-agriculture is pressing Congress for cyber-subsidies for virtual-farmers...

Wed, 07/25/2012 - 16:54 | 2650725 Ineverslice
Ineverslice's picture

THANK YOU FOR PLAYING!!!

And, may the Farce not be with you (HT HedgelessHorseman).

Wed, 07/25/2012 - 16:42 | 2650726 Lost Wages
Lost Wages's picture

When is FB earnings report? :)

Wed, 07/25/2012 - 17:10 | 2650853 Tim Knight from...
Tim Knight from Slope of Hope's picture

Tomorrow (Thursday) after the close. LULZ guaranteed.

Wed, 07/25/2012 - 17:57 | 2651054 hack3434
hack3434's picture

+ 268mm shares will be unlcoekd (3months after IPO) and then another 1.7b by the end of the year. 

Wed, 07/25/2012 - 16:42 | 2650728 ghostfaceinvestah
ghostfaceinvestah's picture

You mean selling stuff to kids with no jobs and boatloads of student debt and whose parents are underwater on their mortgage and have no jobs isn't a sustainable business?

Wed, 07/25/2012 - 17:37 | 2650964 RockyRacoon
RockyRacoon's picture

They could always slaughter some of that virtual livestock and have a virtual feast. 

The actual weight loss might bring them back to reality.

Wed, 07/25/2012 - 19:08 | 2651253 John_Coltrane
John_Coltrane's picture

Yep, thought their business "model" was a little weak when I bought my Znga 5 puts a few weeks back.  Even I didn't imagine this kind of blood bath so soon though.  I rolled by GRPN puts from 20 to 13 and recently to Jan 8s.  Based upon my ANR, FLSR, FB, and LVS (also getting killed afterhours) puts , I think its a lot easier to ID the companies with bad business models than good ones. 

Wed, 07/25/2012 - 16:43 | 2650731 Darkness
Darkness's picture

CAN YOU SAY CRUSHED?

 

SWING BATTA BATTA

Wed, 07/25/2012 - 16:43 | 2650732 Darkness
Darkness's picture

NICE TO KNOW YOU, GOODBYE

Wed, 07/25/2012 - 16:44 | 2650733 Let them eat iPads
Let them eat iPads's picture

Down 40%

Wed, 07/25/2012 - 17:31 | 2650936 Unbezahlbar
Unbezahlbar's picture

Who bought at 15? Who owns now (according to Yahoo)

 

http://finance.yahoo.com/q/mh?s=ZNGA+Major+Holders

Wed, 07/25/2012 - 17:39 | 2650978 veyron
veyron's picture

DST couldnt give a shit about the price: their basis is so low that a sub-penny price could come close to rendering the investment breakeven ...

Wed, 07/25/2012 - 16:44 | 2650735 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

This will usher in the deflation you have all been waiting for.  Any minute now....deflation....here it comes....

...any minute now....

Wed, 07/25/2012 - 17:33 | 2650952 chet
chet's picture

Yes, I suspect the price of shitty social networked video games is about fall significantly.

Wed, 07/25/2012 - 16:44 | 2650736 Robot Traders Mom
Robot Traders Mom's picture

It seems the drought conditions around the world have hit the virtual farms too.

 

I don't throw 15 year-old girl acronyms around lightly, but ROFL!!!

Wed, 07/25/2012 - 17:01 | 2650812 TruthInSunshine
TruthInSunshine's picture

You can thank your son for the more and more frequent puking-up-blood episodes.

 

Just sayin'

Wed, 07/25/2012 - 16:44 | 2650737 ihedgemyhedges
ihedgemyhedges's picture

Zynga, it was nice knowin' ya..........

Wed, 07/25/2012 - 17:03 | 2650821 Strider52
Strider52's picture

Ya know, last night I played Zynga No Limit Texas Hold 'em for the 1st time in 4 months. Coincidence? I think not...

Wed, 07/25/2012 - 17:05 | 2650834 IndicaTive
IndicaTive's picture

Looks like Farmville needs to implement a virtual PIK program. Pronto.

Wed, 07/25/2012 - 16:45 | 2650740 Scalaris
Scalaris's picture

What? How can a debt-deflation spiral not be lucrative for virtual farming margins?

Un·fath·om·a·ble, is what it is.

Wed, 07/25/2012 - 16:45 | 2650741 azzhatter
azzhatter's picture

I have no idea what Zynga is but Faceplant is a piece of shit. I assume Zynga is the same

Wed, 07/25/2012 - 17:18 | 2650884 NotApplicable
NotApplicable's picture

They make "Skinner Boxes" in the form of social media games.

http://www.theatlantic.com/technology/archive/2012/01/the-zynga-abyss/25...

Oh, and if you show this article to the click-junkies, they'll just laugh it off.

And keep on clicking, hoping that the next click brings their reward.

Wed, 07/25/2012 - 18:25 | 2651137 GeezerGeek
GeezerGeek's picture

Being unfamiliar with Farmville, I read the article. Within was this line: "...cleverly-timed crop cycles force players to return to their farms at all times of day." Then I began to wonder: is ZH the financial-universe equivalent? As in "Cleverly timed new articles force readers to return to ZH at all times of day."

Is ZH a Skinner Box? An avid info-junkie, I know I'm hooked.

Wed, 07/25/2012 - 19:04 | 2651242 goat
goat's picture

For those unfamiliar, this will explain it all.  Enjoys the LULZ....

 

http://www.bogost.com/games/cow_clicker.shtml

Wed, 07/25/2012 - 16:46 | 2650748 PSEUDOLOGOI
PSEUDOLOGOI's picture

How can people not see that this is DotCom bubble 2.0^x where x=infinity??? zyngas, shmingas, facebooks, and all the rest social media, internet 2.0, blah blah blah blah blah yada yada yada yada companies are nothing more that another bubble...  

Wed, 07/25/2012 - 16:47 | 2650752 RobotTrader
RobotTrader's picture

This will cause in even greater rally in Treasuries, and the "Metrosexual Glam Stocks" like PNRA, Under Armor, etc. will be unfazed by this news.

 

I still see EUR/USD pinned near the highs of the day, pending the "surprise announcement" coming in the morning.

Wed, 07/25/2012 - 17:01 | 2650798 hedgeless_horseman
hedgeless_horseman's picture

 

 

"...and jetsetting tech plays like PCLN are still...um...what the...oh shit!"

Wed, 07/25/2012 - 17:01 | 2650808 Pladizow
Pladizow's picture

What do you think the difference is between zynga and treasuries?

Wed, 07/25/2012 - 18:54 | 2651221 Jay Gould Esq.
Jay Gould Esq.'s picture

Touche.

+1

Wed, 07/25/2012 - 21:10 | 2651600 malikai
malikai's picture

Headshot.

Wed, 07/25/2012 - 17:14 | 2650867 adr
adr's picture

Wait until the Under Armour channel stuffing catches up later this year. Kevin Plank is a good guy, but he really has more in common with Kermit the Frog. He's a muppet CEO who has lost total control over his company. The directors control the company and most of them have never even worked in sporting goods. Their products are designed by people with no experience in designing sporting goods, that try to copy others success. UA has become nothing but a stock scam.

I'll clue you in how retail works Robo, even though you probably don't care. It is a Ponzi that will come crashing down very soon.

See a company like UA produces more inventory than consumers can ever buy. That isn't a problem though,consumers aren't meant to buy more than 20% of what gets produced. Dick's and the other retailers buy hundreds of millions in UA products, and it gets recorded as a sale for the next quarter. The retail directors all buy UA stock through proxies and they know what the sales are going to be. UA has a good quarter and the stock goes up, everyone is happy. At the end of the quarter UA takes back the product that didn't sell, to record as a loss at tax time. Ever wonder how a store can have 50 pairs of UA shoes one day and then not have any the next? They weren't sold. It gets sent back and UA issues a credit for future orders.

UA takes back product to sell in outlets or pass off to international wholesalers, mostly based in Russia. The product is usually sold at cost or a little above. What isn't sold off sometims makes its way back into the wholesale inventory that gets sold to other retailers. Remember the product was already booked as sold once before. This time 100% of the sale can be booked as profit.

What is kind of funny is that some of the product transferred to the international wholesalers finds its way back to the US after being sold to black market dealers. UA claims this is counterfeit product, even though it's not.

As long as UA can show revenue growth they can borrow more money to keep the Ponzi going. The problems start to show up in times like right now were almost no inventory gets sold to consumers. Without being able to sell something, the retail buyers don't have the cash to purchase the channel stuffed inventory in the first place and have to cut back, leaving UA with too much back inventory. This happened before when the economy turned south and UA kicked the bucket for a while.

Thu, 07/26/2012 - 00:25 | 2652074 JuicedGamma
JuicedGamma's picture

Dang this is better than investment banking. Sign me up!

Wed, 07/25/2012 - 20:23 | 2651469 unununium
unununium's picture

I note with great interest that you did not mention NFLX.

Wed, 07/25/2012 - 16:49 | 2650760 tu-ne-cede-malis
tu-ne-cede-malis's picture

I thought agriculture prices were going up...

 

Oh, farmville is a VIRTUAL farm.  Got it.

Wed, 07/25/2012 - 16:50 | 2650761 doc_in_the_house
doc_in_the_house's picture

don't have a STUPID flopbook account

= don't play STUPID video games = WASTE of time...but i'll gladly buy FB in the low 20s and sell in the mid-twenties...where is the bottom?? who knows??? $3.00??

you can still make $ on MASSIVE sell-offs...AH @ $27 = NOT A SELL-OFF.

 

Wed, 07/25/2012 - 16:51 | 2650767 Conman
Conman's picture

Long AT&T stock, call volume will be up in the morning with all those margin calls.

Wed, 07/25/2012 - 16:52 | 2650768 Haager
Haager's picture

Damn, I'm not done with Hidden Chronicles yet.

Wed, 07/25/2012 - 16:52 | 2650769 Piranhanoia
Piranhanoia's picture

Is it Friday?   I always thought the zynga thing was a joke you talked about on this site.   You can't be serious that this is traded on the stock exchange?   Please,  tell me I am dreaming.

Wed, 07/25/2012 - 17:41 | 2650989 RockyRacoon
RockyRacoon's picture

Wakey-wakey!

Wed, 07/25/2012 - 17:51 | 2651027 The Gooch
The Gooch's picture

Virtual "farmville fresh" eggs and bakey!
Damn, this virtual martini tastes good.

Wed, 07/25/2012 - 16:53 | 2650776 fuu
fuu's picture

Hahahahahahahahah!

Wed, 07/25/2012 - 16:54 | 2650779 RobotTrader
RobotTrader's picture

Whole Foods up 10% after hours, crazed bots are gunning that thing all over the place.

 

$10 to $85 in 3 1/2 yrs. not bad.

Wed, 07/25/2012 - 16:59 | 2650802 Vincent Vega
Vincent Vega's picture

How did NFLX fair today?

Wed, 07/25/2012 - 17:04 | 2650827 Moe Howard
Moe Howard's picture

It got grouponed by crapple.

Wed, 07/25/2012 - 17:52 | 2651031 The Gooch
The Gooch's picture

Mupple.

Wed, 07/25/2012 - 19:21 | 2651292 John_Coltrane
John_Coltrane's picture

Another broken business that I follow.  My Aug 65 puts are suddenly deep ITM.  $80 tp $60 over one day, with more carnage to come.   With the audit the fed passing with a greater than 2/3 majority I'm having a great week so far.

Wed, 07/25/2012 - 17:03 | 2650823 Cursive
Cursive's picture

@RobotTrader

I suggest now might be a good time to short it for the round trip back to $10.

Wed, 07/25/2012 - 17:19 | 2650886 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Robot I have been telling you to buy WFM since I got here.

Wed, 07/25/2012 - 17:24 | 2650915 somethingisrotten
somethingisrotten's picture

LizardBut,

I am surprised that you have any of your mama's meney to throw at momo stocks. 

You are just the type of person who will faceplant the sidewalk when the new 1929 occurs.

Wed, 07/25/2012 - 16:58 | 2650783 doc_in_the_house
doc_in_the_house's picture

sandy weil (citibank "EMPEROR")

is he still holding to his citibank stock that peaked in the $60s or so..and NOW @ $2.5 (10X reverse split adjusted)

Is he the IDIOT-the so-called "postman", is he the idiot that told his "analysts" = paid cheerleaders, to "TAKE A FRESH LOOK" at those IPOs and slap them with BUY RATINGS?

he pushed for the repeal of glass-steagall in 1999 during CLINTOMICS, i didn't have sex with that 300 lb walrus....FREAKING IDIOT !!!!!

NOW !!! he says: break up the banks...well you know "hindsight is 20-20" who could of THUNK it...NOT the folks of the 1930s with the glass-steagall act to CONTROL GREED!!!

Wed, 07/25/2012 - 16:56 | 2650787 Sutton
Sutton's picture

Long at 15.91

Wed, 07/25/2012 - 16:58 | 2650793 RobotTrader
RobotTrader's picture

Zynga $14 to $3 in just a few months.

 

Are you guys sure that this isn't a junior mining stock?

LOL....

Wed, 07/25/2012 - 17:03 | 2650819 Vincent Vega
Vincent Vega's picture

Nope not a mining stock...just another piece of shit like all the other momo's you tout.

Wed, 07/25/2012 - 17:06 | 2650839 RobotTrader
RobotTrader's picture

Which stocks are bigger POS plays?

Junior mining stocks or these airball "concept" tech stocks?  Both are pretty bad to me.

 

And I never recommend any stocks outside the S & P 500, but I may comment on the hot mo-mo plays from time to time.

 

Wed, 07/25/2012 - 17:10 | 2650851 Vincent Vega
Vincent Vega's picture

And your current recommendations are..............?

Wed, 07/25/2012 - 17:15 | 2650875 RobotTrader
RobotTrader's picture

My last recommendation was JNJ a month ago when it was at $64

 

My current recommendation is PG at $64.

Both pay decent dividends, which is what I play most of the time.

 

Wed, 07/25/2012 - 17:19 | 2650888 fuu
Wed, 07/25/2012 - 20:27 | 2651481 unununium
unununium's picture

Strange day to mention the juniors as GDXJ was up 3.77% today.

Wed, 07/25/2012 - 17:36 | 2650909 somethingisrotten
somethingisrotten's picture

LizardBut,

I am surprised that you have any of your mama's money to throw at momo stocks. 

You are just the type of person who will faceplant the sidewalk when the new 1929 occurs.

Wed, 07/25/2012 - 22:25 | 2651795 Richard Head
Richard Head's picture

You're so fucking full of shit, momo faker. When are you going to admit pumping TZOO, NFLX, CMG?  Just fucking kill yourself.

Wed, 07/25/2012 - 17:37 | 2650965 Piranhanoia
Piranhanoia's picture

Stop playing with your machine!  You'll go blind or something.  You are talking back to a bot that isn't as smart as your car key.

Wed, 07/25/2012 - 17:12 | 2650863 I Am Not a Copp...
I Am Not a Copper Top's picture

Deuoooooosche

Wed, 07/25/2012 - 19:02 | 2651234 billsykes
billsykes's picture

I think capital destruction when I think internet stocks.

Wed, 07/25/2012 - 17:03 | 2650824 Pladizow
Pladizow's picture

LOL - HAHAHA, yeah soooooo Funny!

Wed, 07/25/2012 - 17:05 | 2650835 Moe Howard
Moe Howard's picture

Now that is an idea..... a virtual junior mining stock... this has potential.... where is NIA????

Wed, 07/25/2012 - 17:09 | 2650850 Satan
Satan's picture

You made a funny!

Wed, 07/25/2012 - 17:10 | 2650852 toady
toady's picture

I'm very surprised you weren't crushed by this ...

A worthless equity that doesn't make any money is just the sort of thing you usually push!

Wed, 07/25/2012 - 16:59 | 2650796 Hype Alert
Hype Alert's picture

Crop failure on the virtual farm. 

Wed, 07/25/2012 - 17:21 | 2650898 NotApplicable
NotApplicable's picture

I blame the lack of rain.

People are actually going outside this summer.

Wed, 07/25/2012 - 17:24 | 2650911 MrSteve
MrSteve's picture

ZingedYa could not run an online database to maintain its DrawSomething teaser game, a sure short signal they were not a real business with resources to make money.

Flashback to the song Short People by Randy Newman... he Zyngah!

Wed, 07/25/2012 - 17:00 | 2650804 Temporalist
Temporalist's picture

Game Over

Wed, 07/25/2012 - 17:01 | 2650813 viator
viator's picture

It is about time to bail out the virtual: Zynga, Facebook, the EU

Wed, 07/25/2012 - 17:47 | 2651012 Wakanda
Wakanda's picture

LOL - EU is a bunch of zeros and ones in the cloud.

Wed, 07/25/2012 - 17:03 | 2650820 Turin Turambar
Turin Turambar's picture

Not the brightest business model.  Everyone knows that if you want to invest in virtual farming, you need to have a chinese MMORPG gold farming company!  World of Warcraft anyone?

Wed, 07/25/2012 - 17:34 | 2650944 CunnyFunt
CunnyFunt's picture

Harro? Ret me speak to Mistah Zuckeeburp, prease.

Wed, 07/25/2012 - 17:04 | 2650829 Zola
Zola's picture

Anything about the Founder Pincus who cashed in on the IPO , sold a soon to be worthless company aided and abetted by the utter criminals at the IBs - This thing makes me outraged... Talk about ill gotten gains. 

Wed, 07/25/2012 - 17:04 | 2650830 ebworthen
ebworthen's picture

Like health insurance; require people to use social media.

Come up with a Doctor game where citizens learn how to treat themselves for cheap while floating social media equities.

Feed them with virtual crops, and pay them with increases in EBT balances.

Wed, 07/25/2012 - 17:09 | 2650849 Temporalist
Temporalist's picture

Do I get to be the virtual insurance company that looks for any way possible not to pay a claim?  Or a virtual quack that diagnoses 80% of all children I see with ADHD and prescribes them meds?

Wed, 07/25/2012 - 17:57 | 2651050 The Gooch
The Gooch's picture

I'll take virtual pharma. Think I'll call it "Pharmville"..

Wed, 07/25/2012 - 17:06 | 2650838 Running on Empty
Running on Empty's picture

Somebody call John Mellencamp.

Wed, 07/25/2012 - 17:07 | 2650843 Satan
Satan's picture

In the race to hit 0 first my money is still on GroupOn...perhaps the biggest piece of shit to ever go public.

Wed, 07/25/2012 - 17:09 | 2650846 cougar_w
cougar_w's picture

Is it under a dollar yet? I might buy in just for laughs.

My kids used to play farmville a lot. I notice they no longer do. Interesting, and predictable. Because they have no practical value these things are only interesting for a little while.

Wed, 07/25/2012 - 17:22 | 2650902 NotApplicable
NotApplicable's picture

My wife only goes back there when her Scrabble friends are lagging.

Wed, 07/25/2012 - 17:11 | 2650857 Morrotzo
Morrotzo's picture

Zynga were scumbags who cheated, chintzed and ripped their competitors off. Couldn't have happened to be a better pack of swine.

 

 

Wed, 07/25/2012 - 17:11 | 2650858 Jacque Itch
Jacque Itch's picture

Is it wrong that I'm LOVING this sh*t????

 

Wed, 07/25/2012 - 17:19 | 2650887 adr
adr's picture

No, it's wrong if you're not lovin this shit.

Wed, 07/25/2012 - 17:30 | 2650937 ebworthen
ebworthen's picture

Only if you bought Zynga at $12.

I hope CALPERS wasn't a buyer then, but they probably were.

Wed, 07/25/2012 - 17:15 | 2650870 Hype Alert
Hype Alert's picture

You've been ZYNGED!

 

I should coin that.

Wed, 07/25/2012 - 17:15 | 2650873 q99x2
q99x2's picture

Virtually vapor left after the vaporware company Zynga vaporized before my very eyes.

 

Wed, 07/25/2012 - 17:16 | 2650876 doc_in_the_house
doc_in_the_house's picture

which "GENIUSES"

bought this piece of garbage PENNY STOCK @ $15 and is still holding @ $3?? DONTCHA KNOW?? Dr. sheldon Cooper from THE BIG BANG tv show said:

BAZINGA!! = he's joking

ZNGA is a buy @ $15 = BAZINGA!!!!

LOL !!!!

Wed, 07/25/2012 - 17:17 | 2650880 sessinpo
sessinpo's picture

Signs that the denial stage is ending. Things are going to get real bumpy later on. Anger

Wed, 07/25/2012 - 17:18 | 2650883 q99x2
q99x2's picture

Time to Zynga short FB

Wed, 07/25/2012 - 17:18 | 2650885 sessinpo
sessinpo's picture

Zynga, a pimple on facebook

Wed, 07/25/2012 - 17:21 | 2650892 I need more cowbell
I need more cowbell's picture

Ba Zynga.Another of Sheldon's classic pranks.

 

Wed, 07/25/2012 - 17:20 | 2650893 Dr. No
Dr. No's picture

Only when you loose everything, are you free to do anything.....

Wed, 07/25/2012 - 17:20 | 2650895 Self Trader
Self Trader's picture

zyngamagic anyone ?

Wed, 07/25/2012 - 17:23 | 2650908 adr
adr's picture

People are going through social fatigue. It was cool to be able to connect wih people you haven't seen for years, after a short while it became retarded to let people you haven't seen in years know you went to the mall yesterday.

Eventually people also get tired of being told what is important by a hoodie wearing kid that looks like the guy that used to get pants everyday at the bus stop.

Wed, 07/25/2012 - 18:15 | 2651114 Global Hunter
Global Hunter's picture

I agree with that furthermore people are getting concerned about their finances and lowering their lifestyles, even people in denial about what is going on in the world are concerned.  To your point people are bored with social media that spies on you and markets crap to you when they have bigger issues to be concerned with.

What is this about pants at a bus stop, I've never heard of this before?

Wed, 07/25/2012 - 19:43 | 2651354 cbxer55
cbxer55's picture

I'd agree whole-heartedly with that view. My wife and I are buying very little, only necessities. I am paying as much extra on the two vehicle payments as I can to get them paid off early. Original pay off date on both was DEC. 2015, but both will be paid off by this time next year.  ;-)

Then all I have left is the house payment. All the money saved on not having the vehicle payments goes under the mattress. Double ;-)

Don't know what Zynga is, and have never done Face Plant. My cell phone is just that, a frikkin phone. No games, no online stuff, a phone. It'a all I want, nothing more.

Gonna go buy me some more .45 ACP ammunition this weekend though. I put it in ziploc bags with a desiccant pack to keep it all dry.

Wed, 07/25/2012 - 19:50 | 2651380 cbxer55
cbxer55's picture

A Yahoo search brings up articles on chicks peeing their pants at bus stops.

No fooling! ;-)

http://search.yahoo.com/search;_ylt=AjLUgiOieLV6mAKnbyEcH6WbvZx4?p=pants+at+a+bus+stop&toggle=1&cop=mss&ei=UTF-8&fr=yfp-t-701

Wed, 07/25/2012 - 17:24 | 2650910 ptoemmes
ptoemmes's picture

So, is Schrodingers' cat finally and permanentlty dead?

Wed, 07/25/2012 - 17:27 | 2650926 ebworthen
ebworthen's picture

One of the more delicious parts of this story is Margin Stanley owning 13.84% of Zynga.

Dopes.

Wed, 07/25/2012 - 17:48 | 2651015 Unbezahlbar
Unbezahlbar's picture

MS is up over 3% today.   Go figure.

Wed, 07/25/2012 - 17:28 | 2650929 forrestdweller
forrestdweller's picture

fuck zynga. fuck all those computergames. fuck that virtual fake world, where nothing ever realy happens.

Wed, 07/25/2012 - 17:45 | 2651003 billsykes
billsykes's picture

All any of this stuff does is dumb you down, spy on you, distract you and make you buy stuff you don't need, sometimes its all three.

I will get my ZH updates via their telex service.

Wed, 07/25/2012 - 18:11 | 2651102 Global Hunter
Global Hunter's picture

They'll earn approx 7 cents a share for this year so on the bright side its now "only" trading at a 40x multiple of this year's earnings, it only has to lose another 75% of share price to become a potential buy (if you believe that 7 cents a share earnings and all).

Wed, 07/25/2012 - 18:30 | 2651156 Dingleberry
Dingleberry's picture

These Zynga-type sites remind of the time "pet rocks" were in vogue back in the day. Whudda thunk it?

Wed, 07/25/2012 - 18:37 | 2651178 Neethgie
Neethgie's picture

Lol zynga is so tragic because it was mom and pop who got blown up, magically some people still believe wallstreet shysters when they roll round shouting, NEXT BIG THING TECH STOCK, TECH CAN HAVE CRAZY EARNINGS RATIOS THATS NORMAL FOR TECH, although we all know it cant

Wed, 07/25/2012 - 18:41 | 2651190 palmereldritch
palmereldritch's picture

Doesn't Zynga have a Zynga FED where they can just print more of those Zynga dollars out of Zynga thin air? Print more!!

(Instagram does know that FB is paying in Zynga bucks, don't they?)

Wed, 07/25/2012 - 18:44 | 2651193 Downtoolong
Downtoolong's picture

government intervention as the hand-of-god impacts these poor virtual farmers

Maybe they will just include virtual farmers in the subsidys and special income tax treatment for real farmers? But only if you raise the right crop of friends on Facebook.

 

Thu, 07/26/2012 - 00:11 | 2652053 bail-out-billy
bail-out-billy's picture

GarbageVille

Thu, 07/26/2012 - 07:04 | 2652385 awakening
awakening's picture

Thanks ZH for letting me know that I am not alone in knowing the true value of virtual goods (not everyone knows this yet since ZNGA is above 0.00 =S ).

Thu, 07/26/2012 - 17:35 | 2654750 Remington IV
Remington IV's picture

Anyone want to donate a cow ???

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