Why Activision Blizzard Stock Jumped Today
Microsoft (NASDAQ: MSFT) is buying top video game maker Activision Blizzard (NASDAQ: ATVI) in an all-cash deal worth $68.7 billion. This will bring some of the industry's biggest gaming properties together under one corporate roof, marrying Activision Blizzard's popular Call of Duty franchise to Microsoft's top titles like Gears of War and Halo.
The news sent Activision Blizzard's share price up as high as $86.90 Tuesday morning. As of 11:35 a.m. ET, Activision stock was up 27%, while Microsoft's share price was down 1.5%.
Image source: Microsoft.
Source Fool.com
