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Activision Blizzard shares dip seven per cent following Diablo Immortal nonsense

Activision Blizzard shares dip seven per cent following Diablo Immortal nonsense

Stock in Activision Blizzard dipped almost five per cent yesterday in the wake of anger over a new Diablo mobile game.

Shares dropped 6.74 per cent in value on Monday, November 5th. Bloomberg previously reported a 7.2 per cent drop, but stock price appears to have bounced back slightly from that low point before the end of trading.

At the time of writing, Acti's share price stands at $64.34, up from the $64 low it hit when Bloomberg wrote its story - which is its second-lowest point in 2018 to date. That being said, the first was on January 2nd, when shares were $0.03 lower.

This price drop follows angry consumers taking to social media to decry Activision Blizzard's decision to launch a Diablo mobile game in Immortal instead of a more 'fully-fledged' PC or console title.

“Diablo was supposed to be Blizzard’s first shot on goal into the big global mobile game market,” Jefferies analyst Timothy O’Shea told Bloomberg.

“Games like these attract large, harder core mobile audiences in Asia and the Diablo franchise is popular in the US, China, Europe and Korea."

There is optimism around Immortal, however, with Wedbush - home of Michael Pachter - noting Activision Blizzard's intention to capitalise on both the Eastern and Western markets with this NetEase collaboration.

No doubt we'll find out more about this debacle in Activision Blizzard's upcoming investor call.


PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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