Predicted: Facebook Hype Spreads To Zynga, Groupon
Last Thursday, I predicted a bounce higher in the social networking stocks like Zynga Inc (NASDAQ:ZNGA) and Groupon Inc (NASDAQ:GRPN). I described how these two stocks had been hammered with tons of shorts jumping on board. In addition, the Facebook IPO would create a bounce where easy money could be made.
Today, this prediction has started to come true. Zynga is trading at $7.97, +0.49 (6.55%) while Groupon is trading at $11.01, +1.11 (11.20%). This was a no brainer play and easy money for anyone who followed the article.