French video game publisher Ubisoft (UBI.PA) announced a large-scale business reorganization and plans to cancel the development of 6 games, causing its stock price to plummet on Thursday.

As the developer of the "Assassin's Creed" series, Ubisoft's stock plunged 33% after a delayed market opening, leading the declines on the Paris Stock Exchange's high-volume SBF 120 index.

If this decline is sustained, it would mark Ubisoft's largest single-day drop since its initial public offering in 1996.

The Paris-based company plans to split its operations into 5 creative divisions, reorganizing its portfolio of titles by game genre.

Ubisoft also stated it will terminate development on 6 games, including the highly anticipated remake of "Prince of Persia"; furthermore, the company lowered its net bookings forecast for 2026 and withdrew its previously issued performance guidance for the 2026/27 fiscal year.

In a client note, Intermediate Capital Group small and mid-cap analyst Corentin Marty pointed out, "The prospects for the company returning to positive cash flow still appear distant, and its financial structure could face renewed pressure in the short term."

Ubisoft's stock traded at 4.6 euros during Thursday's morning session, giving it a market capitalization of 616 million euros (approximately 720 million US dollars).

According to data from London Stock Exchange Group (LSEG), Ubisoft's stock nearly halved in value last year, pushing its market capitalization below the 1 billion euro mark, a stark contrast to its peak valuation of 11 billion euros in 2018.