Electronic Arts (EA) Stock Pops on Amazon Rumors


  • Electronic Arts (EA) stock is gaining on rumors Amazon (AMZN) may buy it.
  • However, counter reports claim AMZN won’t bid on EA stock.
  • Both companies are also refusing to comment on the situation.
EA Stock - Electronic Arts (EA) Stock Pops on Amazon Rumors

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Electronic Arts (NASDAQ:EA) stock got a boost on Friday morning following reports that Amazon (NASDAQ:AMZN) may be looking to buy the video game publisher.

The current reports are a bit mixed with different sources providing different information. For example, USA Today reported this morning that Amazon would announce a bid for EA stock. However, CNBC followed up that report with their own saying AMZN isn’t expected to make an offer for EA.

Adding to that, both Electronic Arts and Amazon are refusing to comment on the matter. That means we’ll have to wait and see if Amazon is making a bid for EA stock or not.

No matter the case, the rumors spreading this morning have excited investors. Electronics Arts was trending on Twitter (NYSE:TWTR) with users discussing the potential of a deal between the two companies.

In addition to that, EA stock is seeing heavy trading this morning following the Amazon talk. That has more than 5 million shares of the stock on the move as of this writing. For comparison, the company’s daily average trading volume is closer to 2 million shares.

The idea of Amazon acquiring Electronic Arts isn’t as crazy as it sounds. We’ve already seen several major purchases in the video game space between companies. Also, reports that EA was looking for a buyer started to spread back in May of this year.

EA stock is up 5.6% as of Friday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/08/electronic-arts-ea-stock-pops-on-amazon-rumors/.

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