NEW YORK (TheStreet) -- I've always played by what I realize can be an annoying set of rules.
I expect a lot from others. I will not hesitate to go after somebody when I think they're crooked, full of it, whatever.
But, No. 1: I leave it all on the ice. Like hockey players, I will drink beer with you after we tear one another apart in the spirit of competition. And No. 2: I am even harder on myself.
I don't get up at four in the morning everyday to lose.So, while in an article such as Barron's Was Wrong: Facebook Will Hit $100, the gloves come off, I am the first to do what the writer who called Facebook (FB) a $15 stock should do: Admit I was wrong. On Zynga (ZNGA), I was wrong. I got duped when I included the stock in a trio of new media stocks I see dominating long term. The jury is no longer out. Zynga does not belong in the same company as Facebook or Pandora (P). Over the summer, TheStreet's Debra Borchardt schooled me on Zynga. In Friday's video, above, you see Deb reporting on what really might be the thing we remember as "Game Over" for the company. You can be hard on yourself, but you also need to moderate that with some love. On October 24 of this year, I wrote Call the Cops, Mark Zuckerberg Just Killed Zynga, where I called for Facebook to terminate Zynga from the face of the Earth. Zuckerberg started the process on Facebook's last conference when he made it a point to note that gaming remains strong on the social network; the only weak link at that point was Zynga. In fact, Zuck told us that while revenue from Zynga was down 20%, it was up by 40% across all of Facebook's other gaming platforms. That's not how you treat a partner and friend. Now, Deb Borchardt tells us, it's all over. And she's right. Zuckerberg put the final nail in Zynga's coffin. Call the cops, but forgo a trial. No jury will convict Zuckerberg of premeditated murder on Zynga's cold, dead corpse.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV