Wedbush's Michael Pachter isn't buying rumors Asian online gaming giant Nexon will buy...

|By:, SA News Editor
Wedbush's Michael Pachter isn't buying rumors Asian online gaming giant Nexon will buy Electronic Arts (EA +6.9%). With a current market cap of $5.3B, EA would be very tough for Nexon ($8B market cap) to swallow. In addition, employee defections would be huge, Nexon's CEO (owns over 50% of shares) doesn't want to relinquish control, and Nexon has no experience in many of EA's core markets. Also rallying on the rumor: ATVI +2.5%. ZNGA +3.6%. GLUU +3.7%.