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Activision Blizzard's stock price innovative low investors are worried about Microsoft's acquisition of transactions and drift water

via:新浪科技     time:2022/4/28 17:04:05     readed:156

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Sina Technology News On the morning of April 28th, Beijing time, it is reported that on Wednesday, local time, the stock price of Dynamic Blizzard fell, creating the lowest point since Microsoft announced its $ 59 billion acquisition plan in January. The main reason for the plunge of the stock price is that the first quarter financial report announced by Dynamic Blizzard did not meet the expectations of analysts.

In comparison, because of the first quarter of the release, Microsoft's stock price rose sharply on Tuesday, creating the largest single -day increase in two months.

On the same day, the stock price of Activision Blizzard fell 1.3%, and the closing price was $ 76.1. Compared with Microsoft's $ 95 purchase quotation per share at the beginning of the year, the company's stock price has fallen by about 20 %. According to the acquisition transaction released by both parties, this transaction is expected to be completed before July next year.

Microsoft's acquisition of Activision Blizzard will become the largest M & A transaction in the history of the American technology industry. However, a financial media in the United States pointed out that the gap between Microsoft's purchase price and Activision Blizzard's stock price is increasing, which shows that some of the shareholders of Activision Blizzard are worried about whether the transaction can be completed smoothly.

On Monday, Activision Blizzard said that the subsidiary of the "Call of Duty" game "Active Agency", the continuous loss of monthly active users in the first quarter.

Last year, Activision Company released a new game of "Call of Duty: Pioneer", but this game has not been widely praised. In the first quarter, the new sales of Dynamic Blizzard fell 29%, partly because the sales results of the new "Call of Duty" did not reach expectations.

In addition to performance, Activision Blizzard also faces another bad news: the US government regulatory investigation of insider transactions on Microsoft's acquisition of transactions.

In a regulatory report submitted on April 15th, Activision Blizzard said that the company recently encountered information on information for the US Securities and Exchange Commission and a judicial voter from the US Department of Justice. Investigation is related. The two departments are currently investigating third -party personnel (including external personnel who knows the CEO of Activision Blizzard) in the Microsoft acquisition plan to announce the previous securities trading behavior.

Clay Griffin, a Wall Street analyst in the United States, currently set a target stock price of $ 95 for Dynamic Blizzard, which is equivalent to Microsoft's acquisition offer.

Griffin said that there is still the possibility of Microsoft's acquisition of transactions. Recently, the performance of the shares of the Activision Blizzard has indeed showed that some shareholders' concerns about the uncertainty of future acquisitions, especially in the current US capital market In the background of the plunge.

Griffin said that if Microsoft's acquisition plan is ultimately ended, for the fundamentals of the operation of Activision Blizzard, the game user number of "Call of Duty" has not reached the expectations of analysts, which is a bad news.

Griffin personally believes that Microsoft's acquisition of transactions will be completed in the end, but he analyzes that assuming that Dynamic Blizzard has not been acquired, the reasonable valuation of the company's stock price in the future may only be more than 60 US dollars.

The analyst said that if the acquisition of the transaction is blocked, the stock price of Activision Blizzard will obviously fall. Although Activision Blizzard can get a $ 3 billion breakup fee from Microsoft, which can relieve the impact, many people are also worried that in the context of failure to acquire, where the stock price of Activision Blizzard is going.

According to the financial data company FACTSET, 17 of the 21 Wall Street analysts set the target stock price to all the target stocks to the Activision Blizzard have set a target price of $ 95 per share.

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