Activision Blizzard Stock Price Hits A 37-Year High Amid Ongoing COVID-19 Pandemic
The company's share price just hit the highest mark since 1984.
Activision Blizzard, like many other gaming publishers, is riding high right now thanks in part to the COVID-19 pandemic that's keeping people at home playing more games and spending more on them. As The Wall Street Journal noticed, the company's share price recently exceeded more than $95 per share, which is the highest value for the firm since 1984.
MKM Partners, a research firm, recently raised its revenue and earnings-per-share guidance for Activision Blizzard. The firm also raised its price target up to $105 per share.
One of Activision Blizzard's biggest success stories in 2020 was the free-to-play battle royale game Call of Duty: Warzone, which has generated many millions of dollars from microtransactions. The newest Call of Duty game, Black Ops Cold War, also had a strong year in 2020, as the game was the overall top-selling title of the year in the US.
It won't be long until we learn more about Activision Blizzard's financial fortunes, as the company is due to reveal its next earnings report on February 4. Activision Blizzard's stock price has generally been on the rise for the past decade, apart from a slip in 2018 and 2019.
Activision Blizzard is a gigantic company that has its fingers in numerous pies. In addition to franchises like Call of Duty, Crash, and Tony Hawk, its Blizzard division runs the StarCraft, Diablo, and Warcraft universes. Outside of those, the company owns Candy Crush company King.
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