Congresswoman Sold Up To $15K Of Activision Blizzard Stock On Day Of Acquisition
While the dust and the fallout still haven't settled when it comes to Microsoft's takeover of Activision Blizzard, one thing is certain in that there were several people who have made and will continue to make quite a bit of money out of the deal. Certainly, people like Bobby Kotick is going to make some serious cash even if he leaves, but stockholders like Representative Marjorie Taylor Greene are also going to make a pretty penny.
When Microsoft announced it had reached an agreement with Activision Blizzard to purchase the latter company one of the immediate fallouts was that the stock for the struggling maker of Call of Duty began to rebound. It was in fact a continually dropping stock price due to one controversy or another that made the Diablo 3 developer ripe for the picking by Microsoft. Once news broke of the acquisition the stock price started shooting up and the Georgia congresswoman was reportedly among those that took advantage.
RELATED: Activision CEO Bobby Kotick Reportedly Didn't Want Microsoft Acquisition
Business Insider reported that in total, Representative Taylor Greene sold as much as $15,000 worth of Activision Blizzard stock after Microsoft made the announcement. The Republican politician filed a disclosure report on Thursday that didn't detail exactly how much money she made in the selloff but did report at least $200 in capital gains.
It's important to note that there is no indication that violated any insider trading laws or the STOCK act by making these deals on the day that Activision Blizzard was acquired by Microsoft. Trading on the former's stock was relatively heavy that day by most people involved in the market as the news of the merger made headlines for hours. Representative Taylor
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