Prince of Persia remake cancellation leads Ubisoft to its worst day ever; Citadel short bet pays off
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Ubisoft Entertainment faced its worst day ever as shares plummeted 30% following the cancellation of six video games, including a remake of Prince of Persia. The company announced a forecast cut in net bookings to EUR1.5 billion and projected a EUR1 billion loss for the fiscal year. Analysts described the situation as a dire profit warning. Meanwhile, Citadel profited from a short bet on Ubisoft, gaining approximately EUR240 million from the stock's decline.
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