Ubisoft shares drop 25 percent following delays
Yesterday, Ubisoft announced delays for both Watch Dogs and The Crew, two games so highly anticipated that news of these delays prompted Ubisoft stock to shed more than 25 percent of its value.
As of now, Ubisoft stock is trading at $8.19 per share. That's a 26.15 percent dip from just yesterday when Ubisoft was valued as high as $11.10 per share. So far the stock has shown only minor signs of rebounding, though these have immediately been followed by further value loss.
Though the delays of Watch Dogs and The Crew are the comically gargantuan straws that shattered the camel's back, they are not the sole reason for Ubisoft's sudden financial woes. Rayman Legends and Splinter Cell: Blacklist, two games that Ubisoft expected to sell like gangbusters, failed to perform at retail.
"We have had games that were released for which we anticipate today lower sales than we anticipated when we gave our first targets," said Ubisoft CFO Alain Martinez during the firm's most recent investors' conference call. "Already released games such as, of course, Splinter Cell, Rayman, and others."
