After Microsoft flexed its muscles in acquiring Activision Blizzard, Sony has already felt the ramifications of that move. Sony’s stock reportedly took a $20 billion dollar hit a day after the Microsoft news broke.
As detailed in a report by Bloomberg, Sony Group Corp. shares reportedly fell by 13% in Tokyo on Wednesday, just a day after Microsoft announced its $68.7 billion deal with Activision Blizzard. As per the report, the drop itself is the largest single fall in Sony stock since October 2008.
Both Sony and Microsoft have presented different approaches on gaming. Sony has always had a strong first-party set of games, while Microsoft has done a great job of building up their “Game Pass” system.
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With Microsoft looking to have a stronghold over the video game landscape, everyone is patiently waiting to see what Sony’s response would be and with the news of the stock hit, clearly, the market is waiting for one as well.