Zynga (ZNGA.Q), the mobile video game developer, is a terrible investment. The sort of large company that only stays large because it’s large to begin with, thereby attracting dumb investment from institutional folks who buy the things they see mentioned on CNBC, Zynga made US$280 million in revenues last quarter, dropping a net loss of US$70 million.
There must be something in the air this IPO season, because Ultimate Fighting Championship (UFC) parent company Endeavor Group Holdings joins the ranks of WeWork, Lyft (LYFT.Q), Uber (UBER.NYSE) and Peloton Interactive (PTON.Q) as companies that have either stalled their IPO, cancelled it outright, or tanked badly shortly after.
Sitting down at a poker table in a real life casino for the first time is a nerve wracking experience. It’s different when you play online. You’re probably not dressed for the casino and the surroundings aren’t alien and loud, with flashing lights. You’re also not surrounded by stone-faced stoics with their variously sized chip-stacks.
If you’re a sports fan in Canada, you have likely seen (or know of) theScore’s (SCR.V) sports-highlights/headlines cable TV channel that once graced the screens of bars across the country, with the sound down and advertising opportunities limited.
Online gambling company The Stars Group Inc. (TSGI.T) fell nearly 10% yesterday, and closed today at $36.63 (off another 2%), as the street was unimpressed with yesterday’s earnings release.
One of the most ignored aspects of the recent blow up of blockchain and cryptocurrency stocks has been the value inherent in alt-currencies being held by companies in the space as they do their work.
So I was chatting to a broker this week about companies I like in the blockchain sector, and mentioned eXeBlock Technology (XBLK.C), one of our marketing clients.