By Kuldip K. Ambastha
The stock price of Unity Software Inc. (U), a videogame software development company, fell by -37.0% per share on Wednesday, May 11, 2022. In Unity Software’s latest quarterly conference call, company leaders disclosed impressive 1Q2022 results, but also noted disappointing 2Q2022 and 2022 full-year guidance. Wall Street was displeased with the guidance on future revenues, in particular. Unity Software had been considered a company which could deliver strongly in a future metaverse world, where people flock to a comprehensive and enjoyable 3D virtual experience online. If Unity Software continues to disappoint going forward, it may not become a dominant player in the metaverse space.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in U.
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