Benzinga | Sep 21, 2021 02:45PM EDT

Why Activision Blizzard Shares Are Trading Lower Today

Activision Blizzard Inc (NASDAQ:ATVI) is trading lower Tuesday following reports that the Securities and Exchange Commision has subpoenaed the company related to recent discrimination claims.

"Federal securities regulators have launched a wide-ranging investigation into Activision Blizzard, including how the videogame-publishing giant handled employees' allegations of sexual misconduct and workplace discrimination," according to a report from The Wall Street Journal.

Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of largest PC video game publishers. The combined firm remains one of the world's largest video game publishers.

ATVI Price Action: Activision Blizzard has traded as high as $104.53 and as low as $71.19 over a 52-week period.

The stock was down 3.05% at $73.85 at time of publication.

Photo: Tarcil Tarcil from Flickr.