Zynga shares soar with new CEO
Does a change in leadership mean it's time to buy the social gaming service?
Since news broke on Monday afternoon that Microsoft (MSFT) executive Don Mattrick will be Zynga's (ZNGA) next CEO, shares of the online game company have risen 20%. While Zynga's stock has had a strong 2013, shares have trailed the market's return since the company went public in late 2011. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
Motley Fool analyst Matt Argersinger credits Zynga with making a strong hire, while also questioning how much leeway Mattrick will have with Zynga founder Mark Pincus staying on as chairman and chief product officer. Zynga still has an uphill battle, but the company (and the stock) are more intriguing to investors with Mattrick at the helm.
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