Mattrick out, Pincus in at Zynga: Share price falls 10%

Mark Pincus has taken his ball back from Don Mattrick, and the market isn’t too thrilled about it.

Zynga waited until the closing bell rang on Wall Street today before announcing that it was replacing Mattrick with Pincus, but that hasn’t stopped traders from pummeling the stock in after-hours trading. Zynga’s share price is now $2.60, which is down 10 percent from its close of $2.90. That is down from a high of $5.58 under Mattrick, which the company hit in March 2014 after launching a revamped version of its Zynga Poker game. It’s also way down from its all-time high of $14.69, which it hit a few months after its initial public offering in March 2012.