2 Game Stocks Bounce
Could Electronic Arts (EA) really be up for sale? Its a big whatever but gamers are spending more time is cyberspace. Thanks to buyout rumors and positive gaming news its helping Take-Two (TTWO) as well.
Take-Two has been on the buyout watch before, recall the $26 per share offer by EA back in 2008. Take-Two could have sold out for $2 billion, today the company is worth less than half that with a market cap of $880 million. Take-Two (TTWO) shares are up 4% and trading at $9.80. Its possible Take-Two could break the $9 level as we discussed in June in Nine Dollar Stocks for Sale (TTWO, F, ERIC, MGM). EA is the subject of interest today, its just a rumor but Jon Ogg breaks down the details at DailyFinance.
Cowen's and Co. analyst Doug Creutz, in a report published on Tuesday, says: "Total social gaming DAU (daily active users) grew in July after three months of significant declines." That's great news for EA, TTWO but not for the crappiest online gaming stock of them all -- Zynga (ZNGA).
ZNGA shares are down 4% to $2.93 today. That makes a 70% decline for ZNGA since the IPO last December. Its difficult to get excited about investing in Farmville which is why the stock keeps struggling.
Game Stocks on the Move
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