Ubisoft shares hit lowest level since 2011 after company announces major reset

Pcgamer reports Ubisoft announced a "major reset" of its organisational hierarchy and game development plans, and its shares fell to their lowest price since 2011.

The overhaul included a fundamental shakeup to internal studio structure, the cancellation of six projects including the Prince of Persia: The Sands of Time remake, and a pledge of more "player-facing generative AI." CEO Yves Guillemot said the move would foster "the conditions for a return to sustainable growth." CNBC noted the stock dropped about 34% the day after the announcement and closed at €4.06 (around $4.80) a share.

This marks the lowest point in a long downward trajectory dating back to 2021, as can be observed on CNBC's website, and the lowest share price since 2011 when the company reported a $74 million loss. While not the lowest the share price has ever been, and perhaps not as dicey as the hostile takeover Vivendi backed off from in 2018, the fall signals the graveness of this moment for the company.

Key Topics

Business, Ubisoft, Yves Guillemot, Generative Ai, Vivendi, Studio Restructuring