Sony Stocks Tumble Following Microsoft’s Activision-Blizzard Acquisition

On January 18th, the global gaming industry was shaken to its core after it was announced that Microsoft had acquired Activision-Blizzard for almost $70 billion. While this move was obviously beneficial to Microsoft, Sony Group was hurt by this deal since the organization’s stock price fell by 9% the day after the acquisition was announced.

“Sony will have a monumental challenge on its hand to stand its own in this war of attrition,” said Amir Anvarzadeh, a market strategist for Asymmetric Advisors who recommended shorting the stock in a note to clients.

Sony and Microsoft have been going back and forth with one another for industry dominance in what has often been described as the “console wars.” However, with a market cap of $142.38 billion, Sony has clearly fallen behind in the race for industrial supremacy since Microsoft’s market cap is over $2 trillion as of this writing.

Sony Group currently trades on the New York Stock Exchange under the ticker symbol “SONY”. As of 10:58 AM EST on January 25th, 2022, one share of stock in the company is valued at $108.12.

(All information was provided by Google Finance [1,2], Microsoft, Reuters, and Yahoo! Finance)

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