Warren Buffett buys shares of Activision Blizzard

Warren Buffett buys shares of Activision Blizzard

The 40% rise in the video game studio’s share price on news of its purchase by Microsoft marked an industry record, prompting the investor to seize the opportunity.

“Warcraft”, “Diablo” and “Call of Duty” are some of the well-known video game franchises developed by Activision Blizzard, according to a report published by Bloomberg.

The new assets first appeared on Warren Buffett‘s banking conglomerate form F13, which was used for transactions that took place in the last four months of last year.

Warren Buffett purchased 14,658,121 shares of Activision Blizzard, which was valued at $975,205,000 at the time of purchase. In this way, the shares of the video game company represented 0.29% of the tycoon’s total portfolio.

Numerous lawsuits and government investigations into Activision Blizzard’s alleged discriminatory practices toward women caused the company’s stock price to drop to $56.4 per unit in December last year, sending the stock down to as low as $56.4 per unit.

Before Microsoft bought Activision Blizzard for a record $68.7 billion, Warren Buffett was able to benefit from low stock prices, sending the studio’s stock up nearly 40% to $90 a share.