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Ubisoft’s share price has fallen to its lowest level in nearly a decade following the underwhelming launch of Star Wars Outlaws.
The French video game company’s stock dropped over 10% in just two days, falling to €15.34 per share, the lowest since 2014. This drop has brought the company’s market cap down to €1.97 billion.
Star Wars Outlaws, released on August 30, has struggled to meet expectations. Physical launch sales in the UK were reported to be 55% lower than those of last year’s Star Wars: Jedi Survivor, according to GfK data.
Although digital sales numbers have yet to be released, the game’s initial performance has been lackluster. The title received mixed reviews, with a Metacritic score averaging 76 but a user score of 4.9, signaling a generally unfavorable reception from players.
Following the launch, J.P. Morgan revised its sales forecast for Outlaws, lowering expectations by two million units, predicting 5.5 million copies to be sold by March 2025.
Analysts suggest the game’s disappointing performance is partly due to high development costs, which were significantly above those for Assassin’s Creed Mirage.
Additionally, Ubisoft has faced challenges with its free-to-play shooter XDefiant.
Despite a strong start, the game has seen a substantial decline in player engagement, with peak concurrent players falling to around 20,000. This further contributed to the drop in Ubisoft’s stock, which has lost over 30% since the start of the year.
The recent setbacks come at a critical time for Ubisoft, which has faced negative cash flows over the past four years due to game cancellations and delays.
The company had pinned hopes on Star Wars Outlaws and upcoming titles like Assassin’s Creed Shadows to drive financial recovery.
