What's Going On With Unity Software Stock After Hours?
Portfolio Pulse from Adam Eckert
Unity Software Inc (NYSE:U) announced a CEO transition with John Riccitiello retiring as chairman, president and CEO, effective immediately. James Whitehurst has been appointed as interim president and CEO and Roelof Botha has been named chairman. The company also reaffirmed its previously announced third-quarter guidance. Unity shares initially traded about 2% lower on the news before recovering most of the losses.
October 09, 2023 | 9:16 pm
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Unity Software's CEO transition and reaffirmation of Q3 guidance initially led to a 2% drop in share price, which later recovered.
The announcement of a CEO transition can often lead to uncertainty and volatility in a company's stock price. In Unity's case, the stock initially dropped 2% after the announcement but later recovered most of the losses. The company's reaffirmation of its Q3 guidance may have helped stabilize the stock price.
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