Activision Blizzard Turns Positive After Initial Sell-Off

(RTTNews) - After gapping open significantly lower, shares of Activision Blizzard, Inc. (ATVI) have shown a significant turnaround over the course of the trading session on Wednesday. Activision Blizzard is currently up by 1.3 percent after falling more than 3 percent.

The initial sell-off by Activision Blizzard came after the video game publisher revealed Chief Financial Officer Spencer Neumann was terminated for cause for violating his legal obligations to the company.

Activision Blizzard said Neumann will be replaced by Chief Corporate Officer Dennis Durkin, reprising the role he held from March 2012 to May 2017.

Following the news from Activision Blizzard, Netflix (NFLX) announced Neumann is joining the video streaming giant as Chief Financial Officer.