Activision blizzard stocks drop & loses $3.7 billion after diablo immortal's disastrous announcement10/25/2023 ![]() ![]() The company reported revenues of $1.9 billion, in-line with our forecast, and higher than the consensus estimate of $1.8 billion. It’s pretty powerful to test the trend for yourself for Activision Blizzard stock by changing the inputs in the charts above.Īctivision Blizzard (NASDAQ: ATVI) recently reported its Q2 results, which were better than the street estimates. Interestingly, though, if a stock has gained over the last few days, you would do better to avoid short-term bets for most stocks. Question 3: What about the average return after a rise if you wait for a while?Īnswer: The average return after a rise is understandably lower than after a fall as detailed in the previous question. You can try the engine to see what this table looks like for Activision Blizzard after a larger loss over the last week, month, or quarter. But now that ATVI stock has declined 3% so far this week and it is also down 13% year-to-date, will it continue its downward trajectory over the coming weeks, or is a recovery in the stock imminent? The company is accused of worker intimidation and union busting. To add to its woes, the employees of the company and a major media labor union have recently filed an unfair labor practice lawsuit against Activision Blizzard. A California based agency filed a lawsuit against Activision Blizzard for sexual harassment and discrimination, and this did not bode well with the investors. There is a fall in user engagement levels when compared to last year, but this was anticipated as people spent more time on gaming with shelter-in-place restrictions last year, and now with the global vaccination rate rising, people have started to venture out of their homes. ![]() There are two factors driving the stock down. ATVI stock currently trades at $78, reflecting a 25% decline from its Feb highs. It hovered in the 90s levels between Feb and Jul before seeing a sell-off in late-Jul and early-Aug to levels of under $80. The stock price of Activision Blizzard (NASDAQ: ATVI) reached its all-time high of around $105 in Feb this year. ![]()
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