The market\u2019s getting tighter but there are still some good value plays out there, says Allan Boomer of Momentum Advisors, who has named video game company Activision Blizzard (Activision Blizzard Stock Quote, Charts, News, Analysts, Financials NASDAQ:ATVI) as a strong pick going forward. Activision Blizzard announced this week it has reached a settlement with the US Equal Employment Opportunity Commission (EEOC) over workplace harassment claims against the company, pledging to create an $18 million to compensate those who faced sexual harassment and\/or were discriminated against in what former and current employees had labelled as a toxic workplace culture. \u201cThere is no place anywhere at our company for discrimination, harassment, or unequal treatment of any kind, and I am grateful to the employees who bravely shared their experiences,\u201d said Activision Blizzard CEO Bobby Kotick in a press release announcing the deal. \u201cI am sorry that anyone had to experience inappropriate conduct, and I remain unwavering in my commitment to make Activision Blizzard one of the world\u2019s most inclusive, respected, and respectful workplaces.\u201d The company will have more to deal with related to the harassment and workplace claims, however, as it is under investigation from the US Securities and Exchange Commission over unfair labour practices as well as a class action lawsuit from ATVI shareholders. Activision\u2019s share price has suffered in recent months, taking the stock from a record high of just over $103 per share in February to now down around $76. But Boomer says ATVI is looking like a buy at these levels. \u201cI think Activision is one of those stocks that I'm surprised it's trading at an attractive multiple, given that it's in such, I'm going to call it a sexy industry in video games. They've got some really big, big blockbuster titles, and it's a cheap stock,\u201d said Boomer, managing partner at Momentum Advisors, who spoke on BNN Bloomberg on Tuesday. \u201cTypically, when you look at companies that have any kind of story around them they're trading at a premium, so I like that I can buy Activision and get a really small dividend but more importantly pay a discount to the market multiple to own those shares,\u201d he said. Activision bested its own guidance in its most recent quarter, the company\u2019s Q2 2021, delivered last month, hitting $2.296 billion in revenue compared to its prior outlook of $2.135 billion. The company experienced growth across its Activision, Blizzard and King business segments, provoking a raise to management\u2019s yearly outlook which is now calling for net revenues of $8.515 billion. Adjusted earnings for the second quarter were $0.91 per share, beating the consensus forecast of $0.76 per share. Boomer said looking for value in the market is the right play at the moment as interest rates are threatening to rise, putting pressure on equities, but don\u2019t expect the outsized returns experienced in last year\u2019s record run. \u201cI think investors need to understand a couple things. One is that valuations matter. Two, it means that if I invest today I'm certainly not going to get yesterday's return. In fact, I expect that you'll get materially lower returns in the future, just based on the starting point,\u201d Boomer said. \u201cYou've got to ask yourself, am I okay with that am I better off waiting in cash for a sale to happen which who knows when that sale is going to come or do you try to find some value by not just buying the entire index?\u201d he said. \u201cWe're doing a little bit of research, a little bit of homework, and trying to find some stocks that have a good story and are trading at a good price and I do believe there's a lot of value out there.\u201d Activision shareholders did well last year as the market looked favourably on companies seen to be well-suited for the pandemic environment. Stocks in tech did very well as did e-commerce companies and gaming companies. ATVI returned 56 per cent last year, where the whole industry benefitted. The Solactive Video Games & Esports Index, which attempts to track the sector as a whole, was up 92 per cent in 2020 but has been trending downwards across 2021. Activision Blizzard released an update last week on its corporate initiatives to improve its workplace, saying the company is actively engaged and compliant with government agencies tasked with workplace equity and harassment issues.\u00a0 \u201cActivision Blizzard has made a number of important improvements including significant changes to personnel, exiting a number of employees, and expanding compliance resources. In addition, the Company has refreshed its HR organization and, this week, will welcome a new Chief People Officer, Julie Hodges, who joins the Company from The Walt Disney Company. The Company has also expanded training, performance management, and anti-harassment resources,\u201d the company said in a September 21 press release.