Ubisoft (UBI) Shares Drop 16% After Profit Warning

AI Summary

Ubisoft (UBI) shares fell 16% on Thursday due to warnings of annual profit losses. The company's stock had already declined 34% in January following a major restructuring announcement. CEO Yves Guillemot stated that the upcoming financial year is expected to be a low point in free cash flow, alongside restructuring costs. The stock has decreased approximately 38% year-to-date, reflecting significant financial struggles and delays in major game releases.