U - Here's Why Unity Stock Dropped 15% Last Month
2023-10-03 18:10:57 ET
Shares of Unity Software (NYSE: U) dropped by 15.3% in September, according to data provided by S&P Global Market Intelligence . In an official blog post on Sept. 12, the company said that it was instituting a new up-front install fee on games when they're downloaded by users. And this announcement went over like a lead balloon.
Investors need to be careful when using anecdotes to inform their research . After all, a few disgruntled users can drown out the opinion of the majority if they're loud enough.
However, the uproar in this case was undoubtedly real, widespread, and legitimate. Just five days later, Unity's blog post was updated with an editor's note, saying that complaints from the creator community were being heard. Then, 10 days after Unity's original pricing announcement, a new blog post came out from Marc Whitten, the head of Unity Create, that said, "I want to start with this: I am sorry."
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Here's Why Unity Stock Dropped 15% Last Month