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Activision Still Trades at a Big Discount to Microsoft’s Deal. Investors Are Making a Mistake.

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Activision Stock Still Looks Like a Buy. Here’s Why. | Barron’s

Back in July, Barron’s made the case for buying


Activision Blizzard

stock in anticipation of


Microsoft

closing its $69 billion acquisition of the company. With


Activision

shares trading at a significant discount to the deal price, the stock looked closest to a sure thing in an increasingly uncertain market.

Four months later, the risks of the deal falling apart over antitrust concerns haven’t changed. What has changed is the outlook for Activision’s business. The firm behind Call of Duty and Candy Crush is suddenly doing quite well on its own.

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