Motley Fool
Why Activision Blizzard Stock Fell Today
The gaming publisher’s share price fell roughly 1.5% on news that the Federal Trade Commission (FTC) will be challenging Microsoft’s (NASDAQ: MSFT) buyout of the company in court. Meanwhile, the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average indexes closed out the daily session up roughly 0.8%, 1.1%, and 0.6%, respectively. In its recently published complaint against the proposed $68.7 billion buyout, the FTC alleged that allowing the deal to go through would hurt the competitive landscape in the video game industry and enable Microsoft to stifle its rivals in the space.The agency has filed a suit to block the deal in an administrative court, and developments on the regulatory front will likely continue to shape Activision Blizzard’s stock performance in the near term.
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