Zynga IPO
Here are a few names that all trade under $6 that could potentially attract some attention because of the massive interest in the Zynga IPO.
Glu Mobile (GLUU:NASDAQ) This small cap gaming play has been a volatile trading stock for many, and a speculative core holding for others. The company has published games like Call of Duty and Guitar Hero 5 on mobile phones and tablets. GLUU has a small market cap and has been a takeover rumor stock recently. GLUU’s valuation is often brought up frequently in relation to the Zynga IPO.
Mad Catz Interactive (MCZ:AMEX) This Amex penny stock basically produces controllers and other accessories for the gaming industry. MCZ also has a strong relationship with Microsoft (MSFT:NASDAQ). MCZ doesn’t necessarily have the hottest story in relation to true gaming plays, and maybe that is why shares are trading away from 52 week highs. Although, I would still add MCZ to your AMEX best penny stocks to buy watch list.
Cascadia (CDIV:PK) We have touched on this zombie stock many times here at PSE. At this point, there is no Zynga play on this once heavily traded penny stock. There is far too much negativity surrounding CDIV shares since it’s recent halt of trading. Some former CDIV longs could get sucked back in, but you shouldn’t be one of them. Even the Zynga IPO probably can’t help this one.
Majesco Entertainment (COOL:NASDAQ) Majesco is always mentioned when social media stocks come into play and the stock has made a major reversal off of it’s 52 week low. COOL has a small market cap and is already profitable which obviously raises the comfort level of speculative investors. The next earnings release is not until the fall, so getting the typical gaming stock sell off on earnings is off the table for now.
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