Zynga's Shares Spring On CEO Comments, Mobile Plans
Meanwhile, in a company blog, Zynga announced mobile versions for three of its games -- Zynga Poker, Words With Friends and FarmVille. The mobile versions will reduce Zynga's dependency on Facebook (FB). I have been critical of Zynga for allowing…
ZNGA data by YCharts
Zynga's least path of resistance appears to be to the upside with $10 as my next price target.
Meanwhile, I couldn't help think of Zynga on Monday when my newswire announced Yahoo! (YHOO) CEO Marissa Mayer is continuing her company's search for more companies to acquire.
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I remember when Yahoo! games were THE place to go if you wanted to play chess and many other social games. If Yahoo! has a desire regain leadership in social games, a Zynga purchase could happen. That said, I'm not holding my breath on a Yahoo! offer for Zynga any more than I'm holding my breath for Apple (AAPL) to make an offer for Yahoo!
At the time of publication, Weinstein is long Zynga.
This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.