This Mobile Gaming Stock is a Sleeping Giant
Total hours spent on mobile games has been increasing by 10% per year in a recent Tech Crunch report. Evolutions of mobile technology paired with an upcoming 5G integration are removing old barriers of graphics and speed from the mobile gaming platform and opening doors for frictionless gaming platforms.
The creator of famous games such as Farmville, Zynga Poker, Mafia Wars, and Café World, Zynga (NASDAQ: ZNGA) has been in the mobile gaming space since 2007. The road leading up to 2019 has been rocky, as Zynga has gone from 298 million users per month in 2012 to 70 million in the second quarter of 2019 -- the decline in users has also been reflected in the stock price. Zynga appointed a new CEO in 2017, Frank Gibeau, to streamline the company, driving a strategic mindset. After two years in the captain's chair and a few acquisitions under his belt, Gibeau may be onto something.
Data Source: TechCrunch.com
Source Fool.com
