Todays focus alert includes Zynga, Inc. (NasdaqGs: ZNGA). Zynga Inc. develops, markets, and operates online social games on the Internet, social networking sites, and mobile platforms.
Although Zynga, Inc. (Symbol: ZNGA) has not performed that well since its opening IPO price, it does show some hope from the closing price of $9.75 today. Technicals look good if you're day trading this stock for a quick buck however if your looking for the long term ZNGA may not be the best apple in the bunch. ZNGA just came public on December 15th, 2011 and has not done that well however we feel there might be some upside to this play short term since it broke out of its trading channel and closed in the green territory today.
The IPO market in 2011 basically started an upbeat but finished sour as the eurozone debt crisis spiked and produced a treacherous market environment that spooked investors and sent many of them back to the sidelines. The result was the worst returns from new public offerings since 2007 and roughly a 30% decline in global issuance. U.S. IPOs particularly underperformed, falling short of even the S&P 500, which is poised to finish 2011 almost flat.
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