Ubisoft stock value is plummeting to record lows amid all the company issues that surfaced over the last couple of years.
Ubisoft stock is now valued at €18.59, which is around 78 per cent lower than the stock price two years ago, which reached €82.40 in January 2021, reports industry analyst Dr. Serkan Toto.
The reasons for such a downfall in stock price are many. First, Ubisoft recently cancelled three games as they are looking to cut expenses over the next two years. Secondly, Ubisoft Paris studio, the team behind Ghost Recon games went on a strike to protest the internal pressure on the developers and development cycles that led to burnout according to Axios.
Additionally, many Ubisoft developers believe that CEO Yves Guillemot is trying to shift the blame for the company's financial struggles. Guillemot was pretty direct in an internal email to Ubisoft employees, saying how "the ball is in their court" to turn the tide in the company's favour.
To be fair, Ubisoft haven't really hit the nail on the head when it comes to game development in a long long time so such a downfall was somewhat expected.
The company have recently said that they will be focusing on their biggest IPs moving forward so expect more Assassin's Creed , Far Cry and Ghost Recon games.
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Ubisoft have been trying to jump on the free-to-play battle royale bandwagon for years now, but they ultimately failed to release something that would find its place in the already oversaturated market.
Hyper Scape was retired soon after the release, extraction shooter Ghost Recon Frontline was cancelled and there are also a dozen of other battle-royale games that were cancelled before they even got to the announcement.
The Division Heartland is another battle-royale/extraction shooter that is supposed to come out in the near future unless Ubisoft cancel this one too. Time will tell.
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