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Peter Nolan (The Board of Directors) bought a significant amount of shares of $ATVI at the support level of $80-$81. This transaction wasn't once, it was multiple times. In addition, he hasn't sold any of his shares.
Google and $ATVI announced a deal Friday worth millions. For anyone saying the date in the article is wrong here, on Twitter Oracle stated "Google struck secret deals worth "hundreds of millions" of dollars with developers like Activision" at 1:05 PM EST. By doing a simple Google search of the Google and Activision deal, you will notice Business Insider changed the date to make it look hidden, but the original article below has the time stamp on Friday.
9/3 87C has had an open interest of 10K+ since 8/23
Morgan Stanley came out with an article recently seeing a $120 price target.
The legal stuff is priced in. The stock has consolidated and started an upward trend. In the World of Warcraft Shadowlands 9.1.5 update, the company addressed the issue the lawsuit was covering and suggests they are going in the correct direction. The update comes out the same week of 9/3.
If we open $85 Monday, I can easily see this stock hitting $87-$90 easily. The main catalyst here is the Google deal which the media hasn't publicized enough. The fact that someone bought 10K calls on 8/23 and hasn't sold them is the biggest indicator here for me along with the Google deal. The IV on calls Friday jumped and $ATVI held its gains.
Google and $ATVI deal source: https://www.businessinsider.com/epic-google-project-hug-play-store-secret-deal-velocity-program-2021-8
Peter Nolan purchasing shares source: http://openinsider.com/insider/Nolan-Peter-J/1243589
Oracle Twitter Source: https://ibb.co/vwYV3bv
EDIT: Bought the dip and am not worried.
Slide 17, “Google has reached preferential deals with major moblie app developers, such as Activision Blizzard”