Why Unity Software Stock Suddenly Popped Today
Shares of Unity Software (NYSE: U) were slightly down in early trading on Thursday. But just before noon ET, the stock suddenly popped due to a big announcement regarding its pricing structure. As of 2:30 p.m. ET, Unity stock was up about 12%.
Many of Unity's customers use its software to create mobile games and monetize them. And the company has long sold its software as a subscription, charging different prices depending on whether certain thresholds were reached. But last year, then CEO John Riccitiello introduced a "runtime fee" that would charge its customers every time a game was downloaded.
It was a disastrous move that ultimately led to Unity looking for a new CEO.
Source Fool.com
