Zynga's Stock Explodes After Report Says Microsoft's Xbox Boss Has Left To Possibly Be The New CEO

zyngaZynga’s headquarters in San Francisco.

Following Kara Swisher’s report today that Microsoft’s Xbox boss Don Mattrick has left the company and could be Zynga’s new CEO, Zynga’s stock is exploding, currently up about 11%.

It would be an interesting move for Mattrick, who cut his teeth running a traditional video game business for Microsoft. Zynga makes mostly mobile and social games for smartphones and tablets and is in desperate need of someone to come in and reinvigorate its business.

Zynga has been in a lot of trouble lately. Before today, its stock was down about 70% from its IPO price in 2011. The company also laid off 520 people, or about 18% of its workforce, last month. Zynga’s CEO promised to focus more on mobile gaming following the layoffs.

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