Here's Why Electronic Arts (EA) Stock Hit A New 52-Week High Today
Portfolio Pulse from Henry Khederian
Shares of Electronic Arts Inc (NASDAQ:EA) hit a new 52-week high, trading higher by 4.63% to $136.58. The rise is in sympathy with Activision Blizzard after a federal judge denied the FTC's request for a preliminary injunction of Microsoft's acquisition of the company. The FTC had claimed that the combined firm would likely pull Call of Duty from Sony PlayStation and lessen competition in the video game library subscription and cloud gaming markets.
July 11, 2023 | 6:03 pm
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Electronic Arts Inc's stock hit a new 52-week high, trading higher by 4.63% to $136.58. The rise is in sympathy with Activision Blizzard after a federal judge denied the FTC's request for a preliminary injunction of Microsoft's acquisition of the company.
The rise in EA's stock price is likely due to the positive sentiment in the video game sector following the judge's decision to allow Microsoft's acquisition of Activision Blizzard to proceed. This decision could potentially benefit other companies in the sector, including EA, as it may lead to increased competition and innovation.
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