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8. Re: Morning Metaverse May 9, 2012, 14:06 killer_roach
Beamer wrote on May 9, 2012, 13:52:
Very out of whack.
But buying OMGWTF or whatever that company was is a bit ridiculous. One product of value with very quickly diminishing user count.

But hey, this is the year of the 1 billion dollar company with no revenues.

Zynga was worth as much as $11 billion before the downward correction started... if they stop with the dumb acquisitions they might be able to settle in to a place where the stock makes sense around $5-6 a share (market cap of about $4-5 billion), but "growth by acquisition" is a dangerous strategy for a company that's not already matured.

Could be worse, could be the Facebook IPO that's upcoming, which I wouldn't touch with a ten foot pole. It's profitable, but it's spiraling upward in size without improving its profits. (Unless you are assuming the company will start seeing its profits mushrooming, its earnings would indicate a market cap somewhere in the $10 billion range, not an order of magnitude higher.)
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