Activision Blizzard shares are on track for a 19-month low following allegations that CEO Bobby Kotick knew about sexual misconduct claims.
A new report alleges that Kotick, who has been CEO of Activision Blizzard since its inauguration in 2008, knew about sexual misconduct claims at the company for years.
These allegations have already affected Activision Blizzard’s share prices, with J.P. Morgan’s Alexia Quadrani slashing her rating of Activision stock from overweight to neutral.
Quadrani said (via MarketWatch) that she was “reluctant to downgrade” a stock that’s been underperforming, but “recent negative headlines” surrounding sexual-misconduct allegations “introduce a significant amount of uncertainty into this story.”
Activision Blizzard shares fell 4.4 per cent on Thursday alone and are down 12.8 per cent over a three-day period, putting them on track to reach the lowest they’ve been since April 2020. The company’s shares have fallen 25.8 per cent over the last three months.
The most recent allegations seem to have compounded issues, as in protest of CEO Bobby Kotick’s continued employment. Additionally, several .
