We recently published an article entitled The market slump causes the share prices of these fifteen companies to drop. In this article, we are going to look at where Unity Software Inc. (NYSE:U) compared to the other stocks.
Wall Street’s major indexes ended this week’s trading in a bloodbath after a general market sell-off as investors shifted their capital to assets offering higher returns.
This article takes a closer look at the factors behind the recession and examines why each company was particularly affected.
To determine Friday’s biggest losers, we looked only at the 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.
Video games maker Unity Software was not spared from the broader market decline, posting a 5.5 percent loss on Friday to close at $22.84 apiece.
According to analysts, the downturn can be attributed to a sell-off after the gains of the previous trading days.
Over the past 30 trading days, the company’s shares have seen a decline of 5 percent, compared to the $24.11 recorded on November 29, 2024.
Year-to-date, shares fell 41 percent after a tough few years marked by bad decisions and major leadership changes.
Known for its game engine, the company lost its way by focusing too much on advertising and making questionable mergers, such as with IronSource and Weta Digital. Things got worse with the introduction of a runtime fee that angered users and led to the CEO resigning. New leadership under Jim Whitehurst and later Matthew Bromberg shifted the company’s focus back to its core product: the game engine.
General U ranks 13th on our list of stocks recently dragged down by the market slump. 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.
