Shares of gaming, streaming and social media companies including Activision Blizzard, Inc. (NASDAQ:ATVI), Netflix Inc (NASDAQ:NFLX) and Snap Inc (NYSE:SNAP) are trading higher Thursday amid a rebound in the broader tech sector. The sector has been volatile amid concerns over inflation and yields, which have weighed on growth names, as well as a rotation out of COVID plays.
Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of the largest PC video game publishers. The combined firm remains one of the world's largest video game publishers.
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Netflix's primary business is a streaming video on-demand service now available in almost every country worldwide except China. Netflix delivers original and third-party digital video content to PCs, Internet-connected TVs and consumer electronic devices.
Snap is an American camera and social media company founded in 2011 by Evan Spiegel and Bobby Murphy. Snap is based in Santa Monica, California and has three products that drive revenue: Snapchat, Spectacles and Bitmoji.