Ubisoft shares tumble after 'Assassin's Creed' creator unveils restructuring, cancels games [Yahoo! Finance]
UBISOFT ENTMT UNSP/ADR (UBSFY)
NASDAQ:AMEX Investor Relations:
ubisoft.com/en-us/company/investor_center/index.aspx
Company Research
Source: Yahoo! Finance
Shares of the "Assassin's Creed" video game series creator dropped 33% in ?a delayed start to trading, leading losses on the SBF 120 index of Paris' most traded stocks. They were on track for their biggest one-day drop since the company's 1996 ?listing if the ?losses hold. The Paris-based company plans to split into five creative divisions that will regroup its ?titles based on game genres. Ubisoft also said it would ditch development for six games, including a highly-anticipated "Prince of Persia" remake, and ?narrowed its net bookings forecast for 2026, while withdrawing ?its earlier guidance for fiscal 2026/27. "The prospect of a return to positive cash generation appears distant, and the financial structure is likely to be weakened again in the near term," Corentin Marty, analyst at brokerage firm TP ?ICAP Midcap, said in a note ?to clients. Shares were trading at ?4.6 euros in early Thursday trading, giving Ubisoft a market value of 616 million euros ($720 million).
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News
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