Activision Tumbles on Insider Sales

However, some analysts have been skeptical that a deal will come down any time soon, in part because the valuations of the video-game companies have soared over the last year. The insider stock sale is further evidence that Activision at least won't be sold anytime soon, Pachter said.

"We think that the sale of a substantial number of insider shares makes an acquisition of Activision less likely, as most investors will assume that company management would not be selling shares if a sale of the company were imminent," he said.

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