The company remains embroiled in the largest controversy in its history, which could lead to the resignation of its CEO.
Trouble continues to knock on Activision Blizzard’s door. The company has severely tarnished its image after uncovering various cases of sexual abuse at his job, something his CEO Bobby Kotick was fully aware of. This has led to all kinds of reactions, the request of hundreds of employees for the resignation of Kotick being especially prominent, but it was a matter of time before the company notice consequences in its performance on the stock market.
The fall in the stock market could also have been caused, in part, by delays in gamesThroughout the month, Activision Blizzard shares have fallen 25%, something that is attributed to all the controversy in which it is involved right now. In recent days, the company has seen the stock market plummet little by little, with major declines that augured the current panorama. After all, the situation has created such a powerful social media shock wave that almost the entire community is aware of it.
Aside from this, it should be noted that delivery-related dilemmas also affect the stock of a video game company, so the delay of Diablo IV and Overwatch 2 earlier in the month has not helped Activision Blizzard. In this sense, both facts seem to be related, since the company assures that the alteration of dates is due to the fact that the harassment lawsuits have required changes in staff.
Either way, Activision Blizzard faces an unprecedented crisis. Although there are shareholders demanding the departure of Bobby Kotick and other executives, the CEO continues to hold on to his position as the company promises new measures. Now, with the stock market crash, the problem reaches a new economic dimension, so we are likely to see more changes over the next few weeks.
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