Ubisoft shares plummet 33% after Assassin’s Creed maker cancels six games

Ubisoft experienced a staggering 33% drop in its stock price on Thursday, following the announcement of significant organizational changes and the cancellation of six upcoming games. The renowned developer of the 'Assassin's Creed' series revealed that it anticipates an operating loss nearing 1 billion euros (approximately $1.17 billion) for the financial year ending in 2026. This loss is exacerbated by a 650 million euro write-down tied to the restructuring efforts. Yves Guillemot, the Founder and CEO of Ubisoft, addressed the situation in a statement, acknowledging that the refocus of the company's portfolio will have considerable repercussions on its short-term financial outlook, particularly for the fiscal years 2026 and 2027. Despite these challenges, Guillemot expressed optimism, stating that this reset will ultimately fortify the company, allowing it to achieve sustainable growth and enhance cash flow in the long run. This situation is evolving, and further updates are expected.