539
Ubisofts stock tanked this morning ahead of the markets opening (feddit.uk)
submitted 1 year ago* (last edited 1 year ago) by sirico@feddit.uk to c/games@lemmy.world
128 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[-] scrubbles@poptalk.scrubbles.tech 39 points 1 year ago* (last edited 1 year ago)

The stock is tanking. 20% is a huge drop for any massive company. Do you know how much money disappeared overnight because of this? From my very rough calculations, Ubisoft just lost about 300 million dollars because of this drop. That's more than any fine they've had.

The worst day in Stock Market history was Black Thursday, the beginning of the Great Recession. The market only dropped 11% that day. (Somebody call me out if I got those numbers slightly wrong, that's from Wikipedia). These are massive numbers, that I don't think you fully appreciate or understand. The stock market usually deals in single digit or more likely fractional amounts of change. Double digit changes are a huge deal.

[-] dustyData@lemmy.world 16 points 1 year ago* (last edited 1 year ago)

Do you know how much money disappeared overnight because of this?

I do know, none. Not a single cent disappeared. Because stocks aren't liquidity. That money was never there in the first place. Some paid some money to get those stocks, that money was real and it entered the company's liquidity. Then they spent it on something. Those stocks are but the promise of paying some dividends, some time in the future or giving some power inside the company. Their virtual fluctuations of price over time are nothing but smoke and mirrors, people exchanging virtual titles over those rights like little kids trading collectible cards. Some people cashed out for a low price (that was already grossly overinflated from the pandemic days, so they probably still made bank) and it pushed an already correcting stock to accelerate for today. That money didn't come from the company, it was exchanged entirely by third parties, public traders. Ubisoft didn't participate at all in whatever pushed the price drop. No matter how much I want it to, Ubisoft is not in any more danger today than it was in yesterday. They are still filthy rich, if anything the biggest danger for this is that it gives them lee way to layoff another group of underpaid developers or gut another studio to appease the stockholders. Who are already in a frenzy for blood because Outlaws didn't make all the money.

If you were to compare Ubisoft today to Ubisoft 2 years ago, you would see they dropped nearly 93%. Dear golly, how is this poor boutique family company in business after such a massive loss? /s

this post was submitted on 26 Sep 2024
539 points (100.0% liked)

Games

42593 readers
1197 users here now

Welcome to the largest gaming community on Lemmy! Discussion for all kinds of games. Video games, tabletop games, card games etc.

Rules

1. Submissions have to be related to games

Video games, tabletop, or otherwise. Posts not related to games will be deleted.

This community is focused on games, of all kinds. Any news item or discussion should be related to gaming in some way.

2. No bigotry or harassment, be civil

No bigotry, hardline stance. Try not to get too heated when entering into a discussion or debate.

We are here to talk and discuss about one of our passions, not fight or be exposed to hate. Posts or responses that are hateful will be deleted to keep the atmosphere good. If repeatedly violated, not only will the comment be deleted but a ban will be handed out as well. We judge each case individually.

3. No excessive self-promotion

Try to keep it to 10% self-promotion / 90% other stuff in your post history.

This is to prevent people from posting for the sole purpose of promoting their own website or social media account.

4. Stay on-topic; no memes, funny videos, giveaways, reposts, or low-effort posts

This community is mostly for discussion and news. Remember to search for the thing you're submitting before posting to see if it's already been posted.

We want to keep the quality of posts high. Therefore, memes, funny videos, low-effort posts and reposts are not allowed. We prohibit giveaways because we cannot be sure that the person holding the giveaway will actually do what they promise.

5. Mark Spoilers and NSFW

Make sure to mark your stuff or it may be removed.

No one wants to be spoiled. Therefore, always mark spoilers. Similarly mark NSFW, in case anyone is browsing in a public space or at work.

6. No linking to piracy

Don't share it here, there are other places to find it. Discussion of piracy is fine.

We don't want us moderators or the admins of lemmy.world to get in trouble for linking to piracy. Therefore, any link to piracy will be removed. Discussion of it is of course allowed.

Authorized Regular Threads

Related communities

PM a mod to add your own

Video games

Generic

Help and suggestions

By platform

By type

By games

Language specific

founded 2 years ago
MODERATORS
Dremor@lemmy.world
JonsJava@lemmy.world
fxomt@lemmy.dbzer0.com
Dremor@jlai.lu
modfxomt@lemmy.world
PerfectDark@lemmy.world