The gaming company Activision Blizzard is publicly traded. Currently, there is a downward trend: after the largest drop in Activision Blizzard’s stock, it is now at the lowest point of the year.
This is the state of the stock: As of now, Activision Blizzard’s stock ($ATVI) is currently at $82.12. (via nasdaq.com, as of July 27 at 6:21 PM) That is equivalent to €69.42. Thus, the stock has fallen by 8.78%.
The stock is now at its lowest level in 2021 and has also recorded the largest loss of value for the year (via newsfilter.io).
Activision Blizzard is known as the developer and publisher of some of the largest and most well-known video games in the world, including the MMORPG World of Warcraft, the action RPG Diablo 3, and the shooter series Call of Duty.
Stock Drop Follows Major Sexism Scandal
What happened before the drop? The low point of the stock is preceded by a major scandal that began on July 20 with the lawsuit of a state authority in California. The authority accused Blizzard of fostering a toxic workplace environment and exposing women to sexual harassment.
There is no official statement from the heads of Activision (Bobby Kotick) and Blizzard (J. Allen Brack). However, internal emails to employees were leaked. Among them was a statement from Chief Compliance Officer Frances Townsend.
The reaction of Activision Blizzard employees is quite loud. Over 1,500 employees signed an open letter stating: “We will be the change.” Major points of criticism are the statements from Kotick, Brack, and Townsend. The statements are deemed “disgusting and insulting”.
Another consequence of the scandal is that work on World of Warcraft is currently at a standstill. The developers are currently doing little to no work on the MMORPG, and even some players are showing their displeasure.
Here on MeinMMO, we have closely followed and observed the scandal. Our editor-in-chief Leya Jankowski makes a clear statement regarding the entire situation:
Activision Blizzard’s response to the sexism lawsuit was terribly wrong
