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Penny Stocks To Buy Or Sell Now: Zynga Inc. (ZNGA)

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Is ZNGA A Penny Stock To Buy Or Sell This Month?

It is a well-known fact that there is always the possibility of making enormous returns from investing in penny stocks. However, it’s far more difficult to actually find the right penny stocks to buy. Most of the companies which are considered as penny stocks are either too small or have been beaten down heavily from their previous highs.

Hence, it takes a lot of research, analysis, and knowledge of the market to figure out the best penny stocks to bet on. On that note, here is a look at one penny stock that could well turn out to be a multi-bagger in the fullness of time.

Penny Stocks To Buy (or Sell) Now: Zynga Inc. (ZNGA)

The company in question is Zynga Inc (ZNGA Stock Report). It remains one of the most recognizable mobile gaming companies in the world. Zynga has been in the industry since 2007 and has created such hits as Mafia Wars, Zynga Poker and Farmville among others. It had become one of the more valuable gaming companies and peaked in 2012. At the time it boasted of as many as 298 million monthly users.

However, things have not been the same since and now the company only has 70 million monthly users. Two years ago, the company appointed Frank Gibeau as the new Chief Executive Officer and his main brief was to engineer a turnaround.

Not Your Typical Penny Stock

It wasn’t that long ago since ZNGA stock was considered a penny stock trading below $5. But over the last 24 months, shares have rocketed as high as $6.65. The company has made some very interesting moves over the past year or so. In 2018, it acquired Gram Games.

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The company is one of the top game producers at the moment, in a $250 million deal. Considering the fact that Gram Games has such titles as Merge Dragons and others under its belt, it could prove to be a “game-changing” deal for Zynga. No pun intended.

The other important deal was the 80% stake that Zynga picked up in the game developer Small Giant Games. Small Giant has plenty of high-value games in its portfolio like Empires & Puzzles. For instance, Empires and Puzzles alone brings in $19 million. This could help accelerate Zynga’s growth journey as well.

Mobile gaming is a segment that is likely to be far bigger in the years to come. With the launch of 5G services, it could turn into a huge business opportunity for Zynga. Therefore, Zynga could grow as well. Considering the fact that it has $1.3 billion worth of liquid assets, it can also continue to make acquisitions in order to fuel that growth.

By J. Samuel

As a trader and expert finance writer, I enjoy finding new and emerging trends that may have been overlooked by the average masses. If there's one thing that a trader or investor wants to know, it's how to use valuable data to their advantage. My expertise is in uncovering this data and compiling it into actionable information. As a professional finance writer, I've contributed to many of the top finance platforms and pride myself on researching factual, publicly available information and using that in all of my articles.

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