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Dow Jones Breaks Activision Blizzard's Earnings Release Embargo, Stock Crashes, Halts & Recovers

Someone has some explaining to do to Activision shareholders.

May 3, 2018 1:25 PM

Activision Blizzard was scheduled to release earnings results after the closing bell today on the stock market, but Dow Jones got the ball rolling a bit prematurely when they broke the embargo. This colossal snafu caused a volatile move in the stock as it fell from $71.03/share to $64.06/share before trading was halted at 2:15 PM ET and resumed trading at 3:30 PM ET. Check out this intraday one minute chart of Activision Blizzard's wild ride.

Activision Blizzard reported record first quarter revenues of $1.97 billion and also posted all-time quarterly record earnings-per-share of $.065. The results were excellent, but it was likely the unexpected release of the earnings data that lead the stock into a tizzy. Activision Blizzard is currently rated "Hold" in our Game Trader Stock Ratings. Activision Blizzard's stock (ATVI) closed the day at $66.82/share after a wild ride caused by Dow Jones break of the earnings embargo.

Asif Khan

CEO/EIC/EIEIO

Asif Khan is the CEO, EIC, and majority shareholder of Shacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, he retired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.

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