Activision Blizzard has been overtaken by Roblox as the most valuable gaming company in the US, despite the recent release of Call of Duty: Vanguard.
As spotted by Gamespot, shares of Roblox increased by 40 per cent on Tuesday, following the release of its earnings’ report. The company is now valuated by the stock market at $62billion (£46billion), overtaking previous industry leader, Activision Blizzard, which stands at $52billion (£38billion). EA holds third place in the market with an estimated worth of almost $40 billion (£29billion).
Roblox only began trading publicly as of March this year. Companies often make the decision to do so in order to generate funds, such as Devolver Digital which was evaluated at $1 billion when it went public earlier this month.
It is not only the success of Roblox, but also the downfall of Activision Blizzard which has caused this change in the stock market. Stock prices tumbled recently for video game publisher after it decided to delay the release of both Diablo IV and Overwatch 2. Both upcoming titles have been delayed for an unspecified amount of time.
Activision Blizzard has also come under intense scrutiny lately following a number of allegations implying workplace misconduct. The publisher has been criticised as “a breeding ground for harassment and discrimination against women”. The delays also come following a string of departures by senior staff at the company.
In other news, while Battlefield 2042 will release in early access on November 12, EA have announced there will not be voice chat when it launches. Instead, DICE will be expecting players to use external software to discuss tactics with their squadron. Streamer Dr Disrespect has also criticised Call of Duty: Vanguard as having “the strongest aim-assist of all time”.
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