I think it has more to do with the fact that Activision doesn't have any games that aren't Call of Duty. I was looking at their website and it's just Spyro Rema

I think it has more to do with the fact that Activision doesn't have any games that aren't Call of Duty. I was looking at their website and it's just Spyro Remastered and Crash Remastered. Destiny 1 and 2 were huge commercial successes until the players ended up hating the games and they cut Bungie loose which is really concerning if I were an investor. Blizzard meanwhile just maintains their flagship products but some are no longer growing like WoW (over a decade old but man it's time to let go) and Hearthstone (Magic Arena is making a huge push for the more competitive crowd, Gwent is struggling but is releasing new content, Artifact was a bust but valve has money to burn and no investors to please). Don't get me wrong, these games are the market leaders but they aren't growing anymore which is what investors worry about. Overwatch seems very promising but I think OWL is overvalued with franchise fees going from $20 million to $60 million in a year while CSGO; Dota 2 and League tournaments have a greater amount of viewership at a fraction of the cost. Diablo Mobile is pretty much DOA from a fan perspective but mobile games can make a ton of money especially when targeting the asian market which they have a lot of experience in. And the WarCraft 3 remake is a crowd pleaser but I can't imagine it selling like hotcakes, but I could be wrong. Again, If I were an investor I would jump ship and probably invest in another publisher.