Activision Blizzard, Inc. (NASDAQ:ATVI) shares were plunging again on Monday, extending their post-earnings losses to a second day.
The video game publisher posted impressive results, but as CNBC, its guidance was tepid. Still, Cramer sees the pullback as a major buying opportunity:
Activision Blizzard’s management…made the mistake of talking about holiday sales competition on its post-earnings conference call, the “Mad Money” host said.
News of the company’s expanding esports business and professional Overwatch league fell on deaf ears.
“What’s ironic here is that I think that Activision Blizzard should be bought and bought aggressively, which is something we told members of the ActionAlertsPlus.com club many times today,” the “Mad Money” host said.
It’ll be interesting to see how ATVI fares over the next couple of sessions. If shares can firm up here, the stock may just prove to be a rare pre-holiday buying opportunity for a blue-chip video game maker.
Activision Blizzard, Inc. shares were trading at $61.42 per share on Monday afternoon, down $1.78 (-2.82%). Year-to-date, ATVI has gained 71.13%, versus a 17.46% rise in the benchmark S&P 500 index during the same period.