---
title: "Prince of Persia remake cancellation leads Ubisoft to its worst day ever; Citadel short bet pays off"
description: "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 ne"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/273345231.md"
published_at: "2026-01-22T08:56:58.000Z"
---

# Prince of Persia remake cancellation leads Ubisoft to its worst day ever; Citadel short bet pays off

> 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.

By Steve Goldstein Visitors play the "Prince of Persia: The Lost Crown 8" upcoming platform action-adventure video game developed and published by Ubisoft during the "Paris Games Week" fair in Paris, on November 1, 2023. (Photo by BERTRAND GUAY / AFP) (Photo by BERTRAND GUAY/AFP via Getty Images) The cancellation of six video games in the works as part of a broad restructuring sent Ubisoft Entertainment shares to their worst day on record on Thursday. Ubisoft stock (FR:UBI) skidded 30%, its worst day since its 1996 initial public offering, as it shelved a remake of Prince of Persia and also delayed an unannounced title by a year. Ubisoft's net bookings forecast for EUR1.5 billion for the fiscal year implies as much as a 20% cut after the video-games maker in the suburbs of Paris said it'll trim EUR200 million of costs over the next two years. The maker of Assassin's Creed, Far Cry, and Rainbow Six games said it will lose about EUR1 billion on an adjusted basis before interest and tax this fiscal year, vs. a previous estimate of around breakeven. "This is a dire profit warning in a long string of unmitigated disasters," said analysts at Bernstein. It's a big win for Citadel, which according to French securities filings had a short bet equivalent to 0.89% of the company as of Tuesday, implying a profit of some EUR240 million just on Thursday's move. A London firm, Marchant MC, also had a short bet, worth 0.56% of the company. -Steve Goldstein This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 01-22-26 0356ET

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.