Activision Blizzard no longer holds the distinction of the most valuable US gaming company. Roblox, the company behind the hugely popular sandbox game of the same name, has surpassed Activision Blizzard thanks to a recent surge in its stock price.

Shares of Roblox jumped by more than 40% on Tuesday after the company's earnings report, catapulting the firm's market cap beyond $62 billion. This compares to Activision Blizzard's market cap of around $52 billion (via Sarah Needleman of the WSJ). Outside of those two companies, Electronic Arts has a market cap of around $39.7 billion as of this week.

Activision Blizzard's stock price tumbled recently, pushing the company's market cap down, in the wake of its decision to delay Diablo 4 and Overwatch 2. Activision Blizzard's share value has been steadily dropping since June following the lawsuits and other investigations related to allegations of sexual harassment and discrimination against women.