by Mark Barley
Analyst: Zynga worth diddly, squat, null, zero
According to J.P. Morgan analyst Doug Anmuth, one-time social gaming giant Zynga's stock is worth next to nothing.
The analyst states that the total amount of cash on hand, securities, and subsequent property are worth a whopping $2.46 per share.
As of today, Zynga's stock hovered right around $2.35 per share. Literally meaning that Zynga's stock has no worth to investors. Most analysts are predicting that Zynga will be making "massive" layoffs over the next several months.
Zynga's stock went public in 2011 and eventually brought in $1 billion. The company's stock, at one point, reached $10 per share.
A mighty tumble.
Via Los Angeles Times