Ubisoft shares plummet after Assassin’s Creed maker cancels six games
Ubisoft shares plunged 34% on Thursday after the maker of the Assassin’s Creed video games announced a major organizational shake-up, alongside plans to shut studios and axe six games.
The changes come following years of stock price decline, following the Covid-19 pandemic, after delays to major releases and financial struggles.
The company, which is listed in Paris, said it expected to make an operating loss of around 1 billion euros ($1.17 billion) in the financial year ending 2026, following a 650 million euro write-down caused by the restructuring. It would consider selling assets, Ubisoft said in a statement Wednesday evening.
“Today’s market environment requires that the Group step-changes how it is organized and operates,” Yves…
