We recently published a list of 10 Firms Stand Out Amid Market Downturn. In this article, we are going to take a look at where Unity Software Inc. (NYSE:U) stands against other firms that stand out amid market downturn.
Pessimistic sentiment persisted on the stock market on Thursday as investors moved to sell off shares in an effort to minimize risks from uncertainties brought about by President Donald Trump’s continued tariff threats and policy shifts.
The Dow Jones plunged 1.01 percent, the S&P 500 declined 0.43 percent, and the tech-heavy Nasdaq lost 0.47 percent.
Amidst the overall market downturn, 10 companies stood out, clocking in double-digit gains during the trading session, thanks to a flurry of positive catalysts including strong corporate earnings results.
To come up with Thursday’s top performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A software engineer coding while surrounded by the latest industry tools and technology.
Unity Software Inc. (NYSE:U) soared by 30.41 percent on Thursday to end at $28 apiece as investors cheered its improved earnings performance last year.
In a statement, U said its net loss attributable to the company for the fourth quarter narrowed by 51 percent to $122.7 million from $252.75 million, despite revenues declining by 25 percent to $457 million from $609 million year-on-year.
Net loss for the full year also shrunk by 19 percent to $664 million from $822 million in 2023, while revenues dropped by 17 percent to $1.813 billion from $2.187 billion in the same comparable period.
For the first quarter of the year, U expects revenues to settle between $405 million to $415 million.
Overall, U ranks 1st on our list of firms that stand out amid market downturn. While we acknowledge the potential of U as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than U but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
