Depending on how long the backlash can stick around, I would expect to see it go down with a large exodus. In particular, if Microsoft gets upset about the impact it could have to gamepass. Unity does seem to be backtracking, but it really feels like they overextended on purpose to make the actual result feel less shitty
Comment on Unity Software Inc's President and CEO John Riccitiello Sells 2,000 Shares
Ranvier@sopuli.xyz 1 year agoNot that scumbag ceos wouldn’t do such a thing, but doesn’t appear to be the case here: finance.yahoo.com/quote/U/ Anyways, investors love this subscription model recurring revenue junk, makes sense that if anything their stock price has risen from this announcement. We’ll see how it pans out in the long term though.
envis10n@lemm.ee 1 year ago
Brokkr@lemmy.world 1 year ago
Price is tanking at the opening bell while the market overall is flat or positive.
Ranvier@sopuli.xyz 1 year ago
It’s hard to say sometimes, announcement was yesterday morning and it didn’t budge it much. It could also be related to the consumer price index showing an inflation uptick this morning compared to July, raising concerns for more rate increases. That report was just released this morning so seems a more likely cause for a change today.That tends to hit faster growing tech companies with poor p/e ratios like unity. There are other companies with the same pattern today, and the drop around the same time. Maybe you could argue the backlash wasn’t felt to overnight or something? But it’s the stock market, no one can really say for sure. Not that insider trading and things aren’t huge problems, but a ceo who’s paid in stock and has regular planned in advance sales of that stock doesn’t seem quite the conspiracy to me in this specific case. This was another single 2,000 sale, small in comparison to the 50,000 shares sold so far this year alone for this guy. Ceos often have pay and bonuses tied directly to share price, so the idea they would force a policy they thought would lose money in a conspiracy to tank the share price all to sell another 4% of the total amount of stock he’s sold this year at a 5% profit seems like a bit of a stretch to me.