Why Zynga Stock Is Skyrocketing Today

Why Zynga Stock Is Skyrocketing Today

Zynga (NASDAQ: ZNGA) stock is soaring today following news that the company is set to be acquired by Take-Two Interactive (NASDAQ: TTWO) in a $12.7 billion cash-and-stock deal. The mobile-focused video game publisher's share price was up roughly 45% as of noon ET. Meanwhile, Take-Two stock was down roughly 14%, suggesting that investors are worried the company is overpaying in the deal.