Stocks to Sell: Activision Blizzard (ATVI)
Activision Blizzard, Inc. (NASDAQ:ATVI) has been nothing less than heroic this year.
Kicking off 2017 on a bullish foot following a lackluster end to 2016, the bulls kicked ATVI stock into a higher gear in mid-February following an outstanding earnings report.
All told, ATVI jumped 19% on Feb. 10 thanks to a 49% improvement in year-over-year revenue. After a brief lull, the bulls piled on again, taking the year-to-date gain to 57% as of Tuesday’s close. That, however, arguably overstated Activision’s prospects.
Throw in the fact that the company’s share of the nascent eSports market is starting to contract now that interest in Overwatch is waning, and what you’ve got is more than enough reason for the pendulum to start moving in a bearish direction again.