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Zynga 'might have been a fad,' analyst says as stock plummets
by Andrew Yoon, Jul 25, 2012 3:30pm PDTOnce a media and investment darling, social gaming giant Zynga is coming on hard times. The company released its second quarter earnings, causing the stock to plummet as much as 40% in after-hours trading.
The company posted a loss of $22.8 million, and revised projected profits downward from 29 cents a share to 23 cents a share, a figure that has investors panicked.
Shares in the company are hovering around $3 in after-hours trading, below its $5.08 closing price, and well below the $15.91 high it once traded at.
Zynga CEO Mark Pincus blamed the late launch of The Ville and lackluster performance of Draw Something for its lackluster results. The company had paid over $200 million to acquire the developer behind the former drawing phenomenon.
Some analysts are quite displeased with Zynga's potential. "The results are a disaster," Sterne Agee & Leach analyst Arvind Bhatia told The Wall Street Journal. "It's looking more and more like this might have been a fad." Some Shackers might be shaking their heads, muttering "we told you so."
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Once a media and investment darling, social gaming giant Zynga is coming on hard times. The company released its second quarter earnings, causing the stock to plummet as much as 40% in after-hours trading.
Once a media and investment darling, social gaming giant Zynga is coming on hard times. The company released its second quarter earnings, causing the stock to plummet as much as 40% in after-hours trading. : Shacknews
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For example, in Cafe World, the newest mission set is Baby Chai and Grandpa.
15 days of cooking missions, each goal requires at least one dish and sometimes two. these dishes can take up to 3 days to complete, but most average 12 hours.
68 different part types, each needing between 6 to 14 parts each
Family Tree goal -- 10 levels, starting at 6 parts and increasing each level until you need ~50.
2 buildables -- each needing 40 parts each.
2 Catering Campaigns -- each with 3 catering missions of about 2000 dishes and 42 parts that have 3 day timer. The cooking alone (given a lot of stoves and cooking boosters) is 31600 total cooking hours.
You are limited to asking each friend once a day, and you can only ask about 80 times per day. If you have great friends, and have completed some of the previous special events, you can have possibly 200 of the 150% speed stoves.
It is a mess.
I havent started on the Grandpa and Baby Chai
I havent started on the Olympic set (about the same number of missions and parts) that expires in less then 2 days
I havent started the Joe and Lisa Family Vacaction -- 36 missions, 2 catering jobs, and 2 goals (10 levels, starting at 6 parts and increasing each level until you need ~50). This event has expired so I cannot get the rewards for completing it.
Imagine this is WoW.
Your level 85, and Blizzard opened a new dungeon but it is only going to be open for the next 10 days.
Before you can get to the dungeon, you have to complete a bunch of missions. Kill 100+ mobs (so are elites) in 10 different zones, gather 1000 random items, and a bunch of deliveries. Plus you need to run 5 daily's for 5 days. Now you have the key to the Instance.
Nice, you can get in the starting area. Oh, wait, you can't get into any of the wings because you need to be Exalted with each separate faction. You have to run the starting area about 20 times to get your faction up, but there only 4 daily's available to boost it along.
Now you can get into each wing, and start grinding it.
The instance is now expired. The instance is still open, there is still some ups in here, but the best loot is gone. You can still grind out the rep, earn some achievements, but the loot is now greens.
Hey, look, a new dungeon just opened!
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