Ubi shares drop 22% after FH loss announcement

By Patrick Garratt, Wednesday, 17 November 2010 07:58 GMT

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“Strap yourself down: it’s going to be a bumpy ride.”

Bloomberg’s reporting that Ubisoft stock positively cratered in the wake of first-half financials yesterday, dropping a stunning 22 percent on the French CAC 40 Index.

The price settled at €7.50 euros after Ubisoft suffered its biggest drop since at least 1996. The company posted a first-half net loss of €89.8 million euros.

Ubisoft’s bad news didn’t just relate to money in the fiscal release: Driver: San Francisco and Ghost Recon: Future Soldier were both pushed back into the year commencing April 2011 in the announcement.

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