Sony lost $20 billion in a day because of Microsoft

 Sony lost $20 billion in a day because of Microsoft

Sony's capitalization dropped by $20 billion on January 19 following a 12.79% drop in share price following Microsoft's purchase of Blizzard's Activision game company

This was reported by Bloomberg.

This was the largest single-day drop in value since March 2020.

Sony investors are reportedly unsure whether the company will continue to leadership in the market given the trend towards asset consolidation that is increasingly sweeping the entertainment industry.

Blizzard's shares rose 35% within an hour of the announcement of the Microsoft deal to hit a high of $88 .

Add a Comment

Your email address will not be published.