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Activision Blizzard Falls Midday; Layoffs Reportedly Loom

Stock MarketsFeb 11, 2019 11:46AM ET
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Investing.com - It’s not all fun and games at Activision Blizzard (NASDAQ:ATVI). The videogame maker slipped 7% midday amid reports that the company is planning to lay off hundreds of employees.

The layoffs, first reported by Bloomberg on Friday, is in response to sluggish sales as the company faces steep competition and a decline of brick-and-mortar sales.

The company’s struggles started earlier in January when it announced it was splitting from game studio Bungie, which developed the popular “Destiny” franchise.

Elsewhere in the sector, Zynga (NASDAQ:ZNGA) fell 0.3%, while Take-Two (NASDAQ:TTWO) slipped 3%. Electronic Arts (NASDAQ:EA) rose 5%, while GameStop (NYSE:GME) lost 1%.

Activision Blizzard Falls Midday; Layoffs Reportedly Loom
 

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Benjamin McIntire
Benjamin McIntire Feb 11, 2019 12:54PM ET
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Sell atm laddered puts
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TAS JR
TAS JR Feb 11, 2019 12:10PM ET
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Not to mention backlash from Diablo Mobile and Wow numbers falling
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