Ubisoft shares nosedive 40 percent after Prince of Persia cancelation and restructure

On Wednesday, Ubisoft canceled several games and shut down multiple studios in a major company restructure. At the same time, the studio pledged to double down on generative AI in game development moving forward. On Thursday, the stock market treated the company accordingly.

Specifically, Ubisoft shares tumbled by 34 percent on Thursday morning, per CNBC. As of this writing, Ubisoft shares are now down 39.83 percent.

The company has been struggling financially for some time now, with...