Ubisoft at $1 Looks Like Capitulation, Not a Dead Company
Ubisoft’s ADR is trading under $1 with a sub-$700M market cap and a price-to-book below 0.4. That is the market’s way of saying the turnaround is over before it starts. But the mix of deeply washed-out technicals, a still-relevant portfolio of franchises, and real strategic-option value makes this look more like deep value than a classic value trap…