Zynga stock rallied this morning to a 52-week high price of $5.15 after King Digital Entertainment, the European social gaming giant best known for Candy Crush Saga, filed a public F-1 with the U.S. Securities Exchange Commission for a planned initial public offering.
We’ve still got several hours left in the trading day, but Zynga is already showing the strongest stock market performance it’s seen in more than a year (although it is still trading well below its $10 per share IPO price.) Perhaps King’s IPO filing has increased the stock market attention to the hit-driven online gaming business in general — we’ll see how long this rising tide buoys Zynga’s boat.