Unity Software Stock Trades Near All-Time Lows. Here's What It Would Take to Outperform the S&P 500 Over the Next 5 Years
In 2021, the metaverse was creating the loudest buzz in the investing world, and Unity Software (NYSE: U) was seen as a key architect of that future. The stock soared past $200 per share because management said it expected to grow revenue at a compound annual growth rate of at least 30% for the foreseeable future.
In the first quarter of 2024, Unity's revenue dropped 8% year over year. In short, investors' expectations weren't met. Therefore, Unity stock unsurprisingly now trades near an all-time low of $16 per share.
Unity stock is underperforming the S&P 500 by an enormous margin. Since it went public in 2020, it's down about 75%, whereas the S&P 500 is up about 67%.
Source Fool.com