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Activision Blizzard Stock Plummets Ten Percent After Parting Ways With Bungie, Developer Of ‘Destiny’

We brought you the breaking news yesterday that Activision was breaking with Bungie of both Halo and Destiny fame. Bungie will receive full publishing and intellectual property rights for their popular Destiny franchise, which came as a shock to many. Now today we’ve got a good indication of what Wall Street thinks of a Bungie-less Activision Blizzard (NASDAQ:ATVI). In a statement to the U.S. SEC Activision said, “Bungie (will) assume full publishing rights and responsibilities for the Destiny franchise. Going forward, Bungie will own and develop the franchise. As a result, the Company does not expect to recognize material revenue, operating income or operating loss from the Destiny franchise in 2019.” Activision stock down big after split with Bungie Prices plunged by ten percent today, erasing over $3 billion in market cap for the mega-publisher. It’s not hard to…