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Embracer’s shares plummet after $2bn partnership deal evaporates

Embracer's share price plummets after $2bn strategic partnership deal falls through, leading to slashed revenue forecast for 2024.

1 min read
  • Embracer's share price drops nearly 44% after $2bn strategic partnership deal falls through.
  • Adjusted earnings before interest and tax for the 12 months to March 2024 expected to be SKr7bn to SKr9bn.
  • CEO Lars Wingefors attributes challenges to game delays, weaker consumer demand, and lackluster reception for certain releases.
  • Short interest from hedge funds due to light-touch approach to integrating recently acquired businesses.
  • Transformative deal with Amazon to create a game from its Lord of The Rings IP.
Embracer’s shares plummet after $2bn partnership deal evaporates
Swedish gaming group slashes forecast for the year as hopes for partnership are dashed
Financial TimesAnna Gross

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