U - 4 Green Flags for Unity Software's Future
2023-06-28 10:45:00 ET
Unity Software 's (NYSE: U) stock plunged 80% in 2022 as the growth of its game development engine cooled off in a post-pandemic market, Apple 's (NASDAQ: AAPL) iOS update disrupted its advertising algorithms, and rising interest rates popped its bubbly valuations. By the end of the year, many investors had likely written off Unity as another burned-out meme stock.
Yet Unity's stock has rallied nearly 30% this year as four green flags appeared. Let's review those positive developments and see if it's finally safe to sound the all-clear on Unity, which is still trading nearly 20% below its initial public offering price of $52.
Image source: Getty Images.
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4 Green Flags for Unity Software's Future