The French video game maker’s stock value plunged from €23.87 Wednesday to €20.52 Thursday. This comes after the company announced the cancellation of three unannounced projects and another delay to Skull and Bones, a long-anticipated pirate game. (The Logic)

Talking point: Ubisoft is an anchor in Canada’s gaming sector, with three studios in Quebec and locations in Toronto, Halifax and Winnipeg employing about 5,700 people, but its recent games haven’t sold as well as anticipated and holiday sales were “markedly” lower than expected amid a slowing economy. This makes seven titles the company has cancelled in the past two quarters. On Wednesday’s earnings call, it adjusted its third-quarter net bookings target to €725 million, down from the previous €830 million. CFO Frédéric Duget also announced plans to cut more than €200 million in costs over the next year. “This will be achieved through targeted restructuring, divesting some non-core assets and usual natural attrition,” he said.