Zynga Is Another 2014 Sleeper I Like

NEW YORK (TheStreet) -- Last week, I discussed SFX Entertainment (SFXE) as a sleeper hit I like for 2014. The stock is up 12% in the last week.

Here's another stock that I'm hopeful will be a big surprise in 2014: Zynga (ZNGA).

I was just going over my successful and not so successful trades in 2013 and Zynga ended up being a loser for me -- mostly because of option bets on a move up that never materialized in the stock. In other words, I've been a believer for a while that this was a cheap stock that would move up, but the catalysts haven't really materialized yet.

So, be forewarned I have been wrong somewhat about Zynga to this point. But, call it my version of "Dogs of the Dow" theory, I think this loser is about to become a winner in 2014.

One thing I've called right so far in Zynga is that there's a definite floor for this stock. I'd say it's in the $2.75 to $3 per share area. It's tested that level several times now and bounced back. That's the floor value for the $1 billion + in cash, plus the pricey San Francisco real estate for its headquarters, plus some extra value for the operating business, even though that continues to be troubled.

The stock has gone up recently from the $3s to $4.50 and now slumped back to $4.

Where is the stock now and where do I think it's going in 2014?

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