Zynga – Morgan Stanley’s Another Pet that Pooped on Shareholders
(I am in a foul mood today. I am angry at the criminal enterprises called Wall Street, Investment Banks, Too Big to Fail Banks, The Federal Reserve and the US Government. So, pardon my language.)
Not too long ago – before taking AssBook stock public, Morgan Stanely brought another stinker in to the market and the “best and the brightest” minds of Finance bought some for your pension funds: Zynga (which rhymes with a bad word in Telugu).
Well well well. After pumping it to 15.9/share, the stock closed today at $5.0. And after the market closed, the stock got dumped to 2.x – trading down by over 40% of its market value. Why, because Zynga stank the house with abysmal earnings.
Mark Pincus founded Zynga in April 2007 under the name Presidio Media; the company name changed to Zynga in July 2007.Zynga was named after an American bulldog named Zinga once owned by Mark Pincus.
Well, the pup pooped on your portfolio. Not only that, the shares of master of the Pup – Assbook, are also down in sympathy – to below 27, or about 8%. Will Morgan Stanley take any responsibility for bringing these, to quote the infamous GS memo, “Shitty Deals” to the market.
My question is – when are we going to see some of these bastards in jail for misrepresenting the prospects of the securities they sell and infecting millions of retirement accounts with toxic poop like this?
I am disgusted.