Activision Blizzard Inc. (NASDAQ: ATVI) stock is declining in the current market after announcing its changes on Board. ATVI stock is currently valued at $78.87, declining more than 0.03% from the previous close. ATVI stock previously closed at $78.90 with a trading volume of 6.11 million shares.
Global Video Games Industry Dynamics
The global video games industry has been rising for the past decade, but it is surging to new heights after the online gaming boom. The covid-19 pandemic has given the pace to the rising industry, and new players have joined the gaming due to the restriction of people to their homes.
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The rising trend of people watching live gaming streams has also pushed them to try those games themselves. As a result, new gamers are increasing on gaming platforms.
The global market size of the gaming industry was around $197 billion in 2021. In 2022, the global gaming industry will reach $226 billion with a compound annual growth rate of 14.9%. Due to its rapid increase, the global market size of the gaming industry will be around $380 billion in 2026, with a compound annual growth rate of 13.8%.
ATVI: Recent Updates
On April 21, 2022, Activision Blizzard Inc. (NASDAQ: ATVI) elected Lulu Cheng Meservey to its Board of Directors. At Activision Blizzard’s annual shareholders’ meeting in 2022, Kerry Carr will be nominated for election to the board.
A member of the Workplace Responsibility Committee since April 16, Ms. Meservey has just joined the board. At the Company’s 2022 Annual Meeting, Ms. Meservey will be nominated for re-election to the Board of Directors. If Ms. Carr is elected, she’ll be part of the Audit Committee.
In addition, SCUF Gaming, the premier manufacturer of high-performance and custom gaming controllers and accessories, recently announced a new two-year agreement with the firm to remain the official controller of the CDL. SCUF has been the sole controller and controller accessory partner of the Call of Duty League for three years.
Microsoft to Acquire Activision Blizzard
Microsoft will acquire Activision Blizzard for $95.00 per share in an all-cash deal on January 18, 2022. Activision Blizzard’s stockholders’ approval is required before the deal can close, as does the completion of regulatory scrutiny. Activision Blizzard and Microsoft’s boards of directors have both authorized the deal, which is anticipated to be finalized in Microsoft’s fiscal year ending June 30, 2023.
ATVI: Upcoming Events
ATVI announced on April 11, 2022, that they would release their results for the first quarter of 2022 on Monday, April 25, 2022. The company will release Financial results at 4:30 a.m. Pacific Time/ 7:30 a.m. PST.