Unity’s CEO John Riccitiello sold shares a week before dropping their pricing bo | Pocket Gamer.biz

A Surprising Move: Unity’s CEO Sells Shares Before Pricing Bombshell

As Kenny Rogers once famously said, “you’ve got to know when to hold ’em. Know when to fold ’em. Know when to walk away. And know when to run.” Unity CEO John Riccitiello seems to have taken this advice to heart as he recently sold 2000 shares in his company, just one week before announcing their new ‘pay per install’ Unity Runtime Fee. What’s more, Riccitiello has been divesting himself of interest in the company for the past year, selling a total of 50,610 shares. While there’s nothing inherently wrong with this activity, it does raise some eyebrows and suggests that the CEO may not be expecting a turnaround in the company’s fortunes anytime soon.

Buy the high, sell the dip?

Looking at the bigger picture, Riccitiello may have been wise to cash out sooner. Unity’s stock reached a peak value of $172 in November 2021, but since then, it has plummeted by 80%. Despite the company’s recent record-breaking Q2 financials, with $533 million in revenue, they still posted a loss of $193 million. This indicates that while Unity may be making money, they’re spending it even faster.

Given these circumstances, the Unity Runtime Fee is starting to appear as a long overdue and highly necessary recovery move.

*Kenny Rogers