Thanks, Call of Duty.

It looks like the soldiers in Call of Duty: Black Ops 4 have sent some heavy fire toward Funko's (FNKO) stock. 

Funko, maker of the cute action figurines adorning work desks worldwide, saw its stock plunge 18% on Tuesday. The market appears to be reacting to favorable beta reviews of Activision Blizzard's (ATVI) Call of Duty: Black Ops 4. Donning the popular battle royale mode that has made Fornite famous, Call of Duty could prove a threat to the popular gaming franchise. 

Funko recently signed a deal to distribute Fortnite dolls this coming holiday season. So, it's logical that any perception by the market that Fortnite could lose momentum would hit Funko. 

A Funko spokesperson declined to comment. Call of Duty: Black Ops 4 is set for release on Oct. 12. 

Hasbro's new deal to sell a Fornite Monopoly game and Fornite Nerf blasters are unlikely helping sentiment on Funko, either. 

To be sure, the market may be over-reacting here.  

Funko CEO Brian Mariotti recently told TheStreet the company is gaining "major" shelf space at mass retailers such as Target (TGT)  and Walmart (WMT) . Sales trends on Amazon (AMZN)  continue to be hot too, said Mariotti, helping to offset the loss of toy retailer Toys 'R' Us to bankruptcy.

Funko expects sales to reach $1 billion a year within the next five years. The toy maker has found success in large part powered by a vast portfolio of 11,000 licensed characters.

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