Activision Blizzard Is No Longer The United States’ Most Valuable Gaming Company
At least according to the stock market, Roblox has surpassed Activision Blizzard.
Activision Blizzard is no longer the most valued gaming company in the United States. Thanks to a recent surge in its stock price, Roblox, the company behind the hugely popular sandbox game of the same name, has surpassed Activision Blizzard.
Roblox’s stock soared more than 40% on Tuesday following the company’s earnings announcement, boosting the company’s market capitalization to more than $62 billion. Activision Blizzard’s market capitalization is around $52 billion (via Sarah Needleman of the WSJ). Electronic Arts, aside from those two companies, has a market cap of around $39.7 billion as of this week.
In the wake of its decision to delay Diablo 4 and Overwatch 2, Activision Blizzard’s stock price has dropped, lowering the company’s market valuation. Following lawsuits and other investigations into charges of sexual harassment and discrimination against women, Activision Blizzard’s stock has been steadily declining since June.
When Roblox went public in March, it had barely just begun trading. The company does not create games per se, but rather provides a platform for others to do so.
Activision Blizzard, on the other hand, is a more traditional video game publisher that creates, publishes, markets, and distributes games, with Call of Duty, Warcraft, and Diablo among its most popular franchises. It also owns King, the company behind the Candy Crush video games.