Sony’s stock market tumbles 13% after Microsoft’s deal
We are still hungover from yesterday. In a deal never seen before in the world of video games, Microsoft announced the purchase of Activision Blizzard for close to 70 billion dollars. The deal has been an earthquake in the industry, causing the previously depleted Activision to skyrocket on the stock market, surpassing a 30% increase in share price at certain points.
However, it was logical to think that this news is very beneficial to some, but also detrimental to others. The spotlight was on Sony, which has been dealt a blow to start the year by its biggest competitor in the sector. And the reactions were swift, with its shares plummeting 13% on the stock market after the cold water that investors have received.
The share price fell by approximately 10% in the first hour after the news broke, rising to 12.79%. As we say, this was to be expected, and shareholders are probably waiting for a reaction from PlayStation to continue relying on a strategy that, so far, is working really well.
Unlike Sony, Nintendo, for its part, continues in its bubble and has hardly been affected by the announcement. It has only accumulated a slight drop of 0.22%, so it seems that the waters are calmer at the Big N, whose relationship with Activision Blizzard has not been the closest for some years now, either because of the limitations of its consoles or because of the decision not to release hardly any videogames for them.
This merger between Microsoft and Activision Blizzard has stirred up the hornet’s nest as never before. Many well-known sagas and iconic franchises will now become part of Xbox once the deal is completed around 2023. Whether the games previously published by Activision will continue to make their way to other consoles is still a mystery, so we’ll have to wait and see which way Xbox wants to go in its new journey.