Activision Blizzard Storms To New All Time Following Q3 Beat And Acquisition Of King Digital

Activision Blizzard ATVI shares are trading higher by $1.41 at $35.98 in Tuesday's session. In addition, to its nickel beat for EPS on slightly better sales, the company announced the acquisition of Kind Digiital KING for $18 per share. Initially, the Street took the issue lower staging a rally to new all time high. After a lower open, it continued lower and found support just above its Ocotber 13 low ($32.20), only reaching to $32.39 before reversing course. The ensuing rally has taken the issue top new all time high by over $1, reaching $36.24. Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.

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