Ubisoft shares plunge 33% after restructuring and game cancellations

Core Insights - Ubisoft Entertainment shares experienced their worst day on record following the announcement of a major reorganization, which includes studio closures and the cancellation of six games [1] Company Actions - The company is implementing a sweeping reorganization that involves significant changes to its operational structure [1] - Ubisoft has decided to close several studios as part of this restructuring effort [1] - The cancellation of six games has been confirmed, indicating a shift in the company's development strategy [1] Market Reaction - The announcement led to a dramatic decline in Ubisoft's stock price, marking the most significant drop in the company's history [1]