Activision and Bungie announced they would be parting ways last night, with the Destiny developers being granted ongoing control of their sci-fi shooter franchise. That’s great news for the devs, of course, and likely to go down pretty well with the fans. Sadly for Activision, it doesn’t seem to have gone down particularly well with investors.
After the split was announced last night, the company’s stock price dropped a little over 7%, taking the price of an individual share down from $51.35 (£40.15) to a low of $47.70 (£37.29). The drop came after the New York Stock Exchange closed last night, so it’ll be worth keeping an eye out to see what happens when trading begins again later today.
In an SEC report confirming the split released last night, Activision stated that although they’d be turning publishing rights for Destiny back over to Bungie, they do “not expect to recognise material revenue, operating income or operating loss from the Destiny franchise in 2019,” suggesting the FPS was not proving financially beneficial.