Hot Stocks: Zynga Inc (NASDAQ:ZNGA), Venaxis Inc (NASDAQ:APPY)

Lakeway, TX -- (SBWIRE) -- 02/25/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

On the notion of other U.S. states following Nevada in legalizing real- money gambling over the Internet, sends Zynga Inc (NASDAQ:ZNGA) shares up by 43 cents or 13.41% to $3.62 in the morning session.

Is ZNGA Buy After The Recent Price Movement? Find Out Here

With the legalization of online gambling by Nevada, Zynga, which has struggled to step up growth as gamers have shifted to mobile devices, received a possible new revenue opportunity.

“As states legalize some form of online gaming, you’re likely going to see Zynga positively impacted,” Edward Williams, an analyst at BMO Capital Markets, said. “Revenue from Web-based betting will probably measure “in the billions,” he said.

The San Francisco-based company filed for a preliminary finding of suitability for gaming in Nevada, Chief Revenue Officer Barry Cottle said in December. It could take the San Francisco game maker 12 to 18 months to become eligible for real-money wagering in the state, he said at the time. Dani Dudeck, a Zynga spokeswoman, couldn’t immediately be reached for comment today.

Venaxis Inc (NASDAQ:APPY) shares surged by 44 cents or 20.09% to $2.58 in the morning session following an upgrade in its company ratings by Canaccord Genuity from Hold to Buy with a price target of $7.00 per share, up by almost 180%.

How Should Investors Trade APPY After The Solid Jump? Let’s Find Out Here

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