One of the largest shareholders of Playtika got rid of 300 thousand shares of the Israeli company. According to a statement to the U.S. Securities and Exchange Commission, he sold them for $3.52 million.
Shortly after, Bank of America downgraded Playtika’s investment rating to “below market” (Underperform). He estimated the value of the company’s shares at $10 — 10.3% less than they are trading at the time of writing the news.
Against the background of the incident, the price of Playtika shares fell by 5.5% to $11.15 apiece.