We recently published a list of 10 companies mirror Wall Street’s downturn. In this article, we are going to look at where Unity Software Inc. (NYSE:U) is positioned against other companies that reflect the downturn on Wall Street.
Wall Street’s major indexes ended the shortened trading week on a negative note, tempered by labor market data that was much warmer than expected. The news fueled concerns that the Federal Reserve will not cut interest rates again.
Both the Dow Jones and Nasdaq Composite fell 1.63 percent on Friday, while the S&P 500 fell 1.54 percent.
Ten companies reflected a broader market decline amid a range of catalysts that dampened investment appetite. This article examines the reasons behind their decline.
For Friday’s biggest losers, we only looked at stocks with a market capitalization of at least $2 billion and a daily trading volume of $5 million.
A software engineer who codes while surrounded by the latest industry tools and technology.
Unity Software Inc. (NYSE:U) fell for a third day on Friday, losing 8.93 percent to close at $20.90 due to the lack of catalyst to fuel buying appetite.
In the past one- and five-year performance, the company’s share price has seen a decline of 43.71 percent and 69.42 percent respectively, indicating pessimism among investors amid ongoing earnings performance issues.
In its latest quarterly results, Unity Software Inc. reported. (NYSE:U) posted a loss of $0.31 per share, which beat analyst expectations of $0.39. Despite being in the red, the numbers showed an improvement over the previous quarter, when it beat expectations with a smaller-than-expected loss of $0.32 versus $0.44.
Unity Software Inc. (NYSE:U) is a game engine company that creates tools that help create and run real-time 3D content, such as video games, interactive experiences and industrial applications, across platforms.
Overall, U is in 6th place on our list of companies that reflect the downturn on Wall Street. While we recognize U’s potential as an investment, our belief lies in the belief that AI stocks hold greater promise for delivering higher returns in a shorter time frame. If you’re looking for an AI stock that’s more promising than U, but trades at less than five times earnings, check out our report on the cheapest AI stocks.
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Disclosure: None. This article was originally published on Insider monkey.
