US politician denies selling Activision stocks hours before Microsoft acquisition block

A US politician, Seth Moulton, has denied selling Activision stock for $250,000 just hours before the Microsoft acquisition was blocked by the FTC. 

On June 13, the US Federal Trade Commission (FTC) filed to block Microsoft from buying Activision Blizzard, seeking to stop the deal from going through as various other appeals come to light around the historic $69 billion acquisition.

Due to the complications of the buyout, Activision Blizzard’s stock price has fluctuated as a result for the past six months. Most notably, the price often takes a hit with every attempted block by regulators around the globe. 

However, just hours before the block from the FTC, Seth Moulton, a US Representative from Massachusetts, allegedly sold $250,000 of Activision Blizzard stock. Though he has since denied these reports.

BREAKING: Seth Moulton, a US Representative from Massachusetts, sold $250,000 of $ATVI, Activision, on June 13th. Later that exact day, the $ATVI and $MSFT acquisition was blocked by the US FTC.

— unusual_whales (@unusual_whales) July 6, 2023

According to Unusual Whales, a crypto and stock data tool which also “exposes market-wide corruption”, they recorded that Moulton sold off Activision Blizzard stocks worth six figures on June 13, hours before FTC’s block. 

However after a day after the tweet by Unusual Whales, a representative of Moulton sent a response to the website.

The direct response to Unusual Whales reads as follows: “The Congressman’s wife was previously employed by Activision and received stock grants as part of her income. The news of the FTC’s intention to ask a court to block that merger was already publicly reported on the 12th.

“Her sale was made the next day. They had zero advance knowledge, truly sold it without knowing what would happen.” Moulton’s public statement further reiterates the same information. 

According to Unusual Whale’s record of Moulton’s sales history, this was not the first time he has sold Activision Blizzard stock, selling off $100,000 worth in March as well.