Activision stock price closes 7.5% up following King purchase

Activision Blizzard’s share price reached a record high following the announcement it will be acquiring Candy Crush company King.

The publisher’s stock price reached $37 at lunch yesterday (Tuesday November 3rd), and closed at $35.82 at the end of trading.

That is 7.5 per cent higher than its opening price of $33.35, and the highest the company’s share price has ever reached.

This is likely a reaction to the news that Activision Blizzard is buying mobile behemoth King yesterday for $5.9bn. The firm’s better-than-expected Q3 financial results could also have played a role in this rise.

It wasn’t just good news for Activision Blizzard, either. King’s stock price closed trading at $17.84 – a boost of 14.8 per cent from its starting price. For reference, Activision is paying $18 per share for King.