2024-02-12 08:30:00 ET
Summary
- Unity Software Inc. investors saw Unity fall into a bear market after a significant recovery from its November 2023 lows.
- The company is undergoing strategic changes, including a new CEO and a 25% reduction in headcount.
- Unity's future challenges may be reflected in the weak sentiments toward the gaming industry, but its partnership with Apple's Vision Pro headset could drive new growth opportunities.
- I argue why Unity's recent price action suggests it could bottom out heading into its fourth-quarter earnings release.
- Unity investors considering buying more shares should capitalize on the recent bear market plunge before the rest of the market realizes it.
Unity Software Inc. ( U ) investors experienced a significant recovery from its November 2023 lows before it petered out in late December. Despite that, U still managed to outperform the S&P 500 ( SPX ) ( SPY ) significantly since my previous upgrade in late November. As a result, I believe it should be clear that U investors have seen the worst in the stock's decline as it hit rock bottom late last year....
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Unity Software: Recent Plunge Provides Another Doubling Down Opportunity