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.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Bill Stiritz owns more than 5% of the company, and has experienced an estimated $145 million in paper losses on his investment.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.