Sony fell nearly 13% on the stock market on Wednesday after announcing Microsoft's deal to acquire Activision, the video game giant that owns titles such as "Call of Duty" and "Candy Crush".

This slip caused the company's stock to hit October 2021 levels, ending a streak that took its shares to 21-year highs in early 2022, 'Five Days' reveals.

"They think Microsoft will make all Activision Blizzard games exclusive (to Xbox), hurting PlayStation sales and helping Microsoft close Sony's hardware sales gap," said industry consultant Serkan Toto, according to the same source.

On Tuesday, Microsoft's gaming company Xbox announced the purchase of video game giant Activision. The deal, which will be completed all cash, is worth approximately 59.8 billion euros ($68.7 billion).

However, in a statement, Microsoft assured that "when the transaction is completed, Microsoft will become the world's third largest gaming company by revenue, behind Tencent and Sony."