Activision Blizzard Sees A Huge Stock Plummet Following Bungie Split

The gaming world was "shooketh" yesterday when Activision and Bungie announced that they were parting ways and that Bungie won the custody rights to the Destiny franchise. Immediately, the Destiny community rejoiced in what this means for future creative endeavors, but a common reactions was "Blizzard next." Something clearly needs to change and the latest stock drop just proves it.

Following the reveal, the Activision Blizzard stock reportedly saw a 7% decrease following the big reveal. Fast forward to this morning, and it feel even further to 12% and the drop continues. While many held Activision accountable for the more regrettable decisions made in Destiny 2 (paywall blocks, rushed content, etc), this isn't the first time that Bungie has parted ways with a big name. Their previous beef was with Microsoft before Phil Spencer came on to save the scene, so the save themselves routine regarding Activision is both familiar and a relief.

There's a lot of speculation regarding the reason behind the abrupt split after a 10-year contract, but the two companies did offer up their own statements:

"When we first launched our partnership with Activision in 2010, the gaming industry was in a pretty different place. As an independent studio setting out to build a brand new experience, we wanted a partner willing to take a big leap of faith with us. We had a vision for Destiny that we believed in, but to launch a game of that magnitude, we needed the support of an established publishing partner," reads Bungie's full statement.

"With Activision, we created something special. To date, Destiny has delivered a combination of over 50 million games and expansions to players all around the world. More importantly, we’ve also witnessed a remarkable community – tens of millions of Guardians strong – rise up and embrace Destiny, to play together, to make and share memories, and even to do truly great things that reach far beyond the game we share, to deliver a positive impact on people’s everyday lives."

Though they mentioned they "enjoyed" their 8-year run with Activision, Bungie is ready to have the Destiny name fully in their grasp once more. The team also announced that plans for the separation are already under way and that both teams are dedicated to making sure the fans aren't hurt by the transitional process.

Activision shortly thereafter released their own statement saying:

"Today we're announcing plans for Bungie to assume full publishing rights and responsibilities for the Destiny franchise," reads their official statement. "Going forward, Bungie will own and develop the franchise, and Activision will increase its focus on owned IP and other projects. Activision and Bungie are committed to a seamless transition for the Destiny franchise and will continue to work closely together during the transition on behalf of the community of Destiny players around the world."

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What this means for the future, no one knows yet. But with mounting concerns of Activision's influence over Blizzard and co-founder Mike Morhaime leaving the company for good in April, something weird is happening and it needs to be addressed before it's too late.

Thoughts on Activision and what's currently going on surrounding the company? Join in on the conversation in the comment section below, or hit me up over on Twitter @DirtyEffinHippy.