Financial news site 24/7 Wall St. has published its annual list of North American companies it predicts “will disappear before the end of the next year.”
Included in the list is Zynga, the maker of such hit Facebook games as Farmville but whose popularity has waned recently. “Zynga can be considered the single greatest social media failure among recent IPOs,” Wall St. says. “Since early March, Zynga stock has dropped 45%, which while indicative of its troubles, also makes it a more attractive takeover target.”
Another one is BlackBerry, the only Canadian company on the list, which Wall St. says “is about to run out of its nine lives.” The publication affirms that “revenue has continued its multiyear slide, confirming the belief that BlackBerry cannot survive on its own.”
It’s worth noting that BlackBerry was on the list in 2012 and evidently failed to disappear.
After five years of making predictions, out of the 49 companies that have made Wall St.’s annual list, 24 have “disappeared,” which includes being acquired and going into bankruptcy.