The mighty have fallen. Activision is no longer the most valued video game company in the US. The publisher, who is responsible for games such as Call of Duty, Diablo and Overwatch have now lost that title to Roblox. This was after Roblox saw a massive surge in share prices over the past few weeks. Keep in mind that Activision has also been in the spotlight in recent months due to the ongoing sexual harassment lawsuit surrounding its staff and employees.
Since June, Activision stock has dropped 24%. In early November, its stock was sitting at its lowest point in five years. Roblox, on the other hand, has seen its stock skyrocket. Especially over the past few weeks.
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Activision currently has a market cap of $52 billion. However, Roblox shares saw a massive jump of 42% after its Q3 earnings report last week. It is now sitting at a market cap of $63 billion.
It is a strange situation. Roblox recently suffered a three-day outage across the game that prevented millions of players from logging into the servers. On the other hand, Activision has just recently announced an indefinite delay to both Overwatch 2 and Diablo IV – two of its biggest upcoming games. If anything, these are the only two known games at the publisher.
While Activision stock dropped due to this announcement, and the ongoing lawsuit, Roblox stock increased regardless of the server outage. Seems that kids just love the game and investors want in on the success.
$RBLX Dethrones $ATVI as most valued US videogame company pic.twitter.com/9cHrPBx7p9
— Sarah E. Needleman (@saraheneedleman) November 10, 2021
Activision will probably never recover from this tough year it has had. With no game releases in sight, the publisher is probably going to suffer from some major lay-offs across the board. We can only hope things get better.
