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Congresswoman sold up to $15k in Activision Blizzard shares on acquisition day

Marjorie Representative Taylor Greene is one of many shareholders looking to capitalize on the deal between Microsoft and Activision Blizzard.


Congresswoman sold thousands of dollars of Activision Blizzard stock on acquisition day

While the dust and fallout have yet to settle down when it comes to MicrosoftTaking over Activision Blizzard, one thing is for sure, there are a few people who have and will continue to make a good deal of money from this deal. Sure, people like Bobby Kotick will win some big cash even if he did leave, stock holders like Representative Marjorie Taylor Greene would make a pretty penny.

When Microsoft announced it had reached an agreement with Activision Blizzard to acquire a second company, one of the immediate setbacks being stock for the struggling maker Call of Duty started to increase again. In fact, the stock price keeps falling due to one controversy or another that has caused Diablo 3 developers are ripe to be picked up by Microsoft. After news of the acquisition, stock prices began to rise, and the Georgia congresswoman is said to be among those who took advantage.

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Business Insider reports that in total, Representative Taylor Greene sold up to $15,000 in shares of Activision Blizzard after Microsoft made an announcement. The Republican politician filed a revealing report on Thursday, which did not detail exactly how much she made in the sell-off but did report capital gains of at least $200.


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It is important to note that there is no indication of violating any insider trading or STOCK laws by executing these trades on the date that Activision Blizzard has been acquired by Microsoft. That day, most market participants traded in the company’s shares previously relatively heavily as news of the merger hit the headlines for hours. Representative Taylor Greene was also known to be one of the most active stock traders at the convention. Her disclosure report shows similar transactions the next day.


It is also possible that Representative Taylor Greene was not the one who made the decision to trigger the sale of Activision Blizzard stock. She has previously said that she appointed someone to make those kinds of decisions and that she was not directly involved in any such transactions.

The debacle from this sale – including buying and selling shares of both companies – is likely to continue for several more months at least. Earlier this week, House Judiciary Chairman Jerry Nadler made it very clear that he felt the deal needed to be “reviewed” for a number of reasons before it was allowed to close.


THAN: Xbox needs to finally deal with the Activision Blizzard elephant in the room

The source: Business Insider



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