Activision’s stock price hits all-time high, closes up 7.5% after King deal
We woke up today to a world where Activision is now, overnight, one of the biggest mobile gaming publishers in the world. And Wall Street seems OK with the deal.
Activison’s stock price marched past $37 in value for the first time ever around lunch time today before closing out trading at $35.82. That’s up 3.62 percent from yesterday, and it is up 7.5 percent from the opening price of $33.35 this morning. Investors were most likely responding positively to landmark news that Activision is dropping $5.9 billion to acquire mobile publisher King, the company responsible for the megalucrative Candy Crush smartphone games. But it also doesn’t hurt that Activision had a stellar third quarter that outpaced analyst expectations.
For reference, Activision’s share price was around $19 in November 2014.
