Market Commentary

Seth Moulton Sold Activision Blizzard Stock

Torsten Caspar · 1 minute read

Mr. Seth Moulton, the Representative from Massachusetts, disclosed yesterday that he sold Activision Blizzard (ATVI:US) shares in September.

Interestingly, Rep. Moulton was selling ATVI shares on September 16, when the stock closed at $76.02 per share. Over four months later, ATVI stock is trading at a nearly identical price. Remember, Microsoft announced last January that it agreed to pay $68.7 billion to acquire Activision Blizzard, which develops video game franchises like “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush.”

However, the deal ran into strong regulatory scrutiny with Sony, the key rival of Microsoft’s Xbox video game unit, opposing the deal, which would be Microsoft’s largest ever if it gets the green lights. At the moment, the blockbuster deal is currently being scrutinized by governing bodies in the United States, the European Union, and the UK.

Just a few days ago, Xbox head Phil Spencer said he was confident about the ATVI deal going through.

“I'm more confident now than I was a year ago, simply based on the information I have and the discussions that we've been having,” Spencer told IGN in a recent interview.

Congress members like Alan Lowenthal, Ro Khanna, as well as Senator Tommy Tuberville, were all buying ATVI shares in recent months, therefore betting that Microsoft will be allowed the close the deal.

Elsewhere, Rep. Moulton also reported that he was buying some Amazon (AMZN:US) shares in August.