I used to work at a gaming company (listed on the Hong Kong stock exchange). The gaming industry white paper mentioned that the global gaming industry's revenue is still quite decent. The competitor Epic focuses on PC games, while Unity focuses on mobile games. Both have a high market share.
Falling 30% in a single day is truly absurd 😓.
The ghost stories on Wall Street are really hard to understand. When AI doesn't materialize, people fear it's a bubble; when it does materialize, they say it's squeezing software stocks.
For example, Adobe's revenue has been growing continuously, yet its stock price keeps falling....
Same as $Unity Software(U.US); in fact, pure software companies and platform-type software companies should be valued differently under the AI cycle. But now the market is clearly throwing both into the same basket for valuation. I posted about this before, sold some at 13~14, just waiting for the three-yang reversal first.
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