Sony Stock Rallies Amid Bungie CEO Departure and Potential Merger with PlayStation Studios

Sony's stock rose 3.73% on Friday after Bungie CEO Pete Parsons stepped down, marking the end of an era for the game development studio. Parsons' departure comes after the studio's latest game, Marathon, was delayed indefinitely. The move has sparked speculation that Bungie may be folded into Sony's PlayStation Studios. Despite the uncertainty, Sony's stock has rallied 35.44% year-to-date and 49.53% over the past 12 months.