Shares of Frontier Developments collapsed by 42 in a day%
The British publisher Frontier Developments is facing the biggest daily stock drop in the company’s history. This happened after he reported low sales of F1 Manager 2022 during the winter holidays.
In a report for investors, Frontier Developments reported that Christmas sales of the racing simulator were significantly lower than the publisher’s expectations. The company attributed this to the fact that gamers began to spend less due to problems in the global economy. Total sales of F1 Manager 2022 have exceeded 600 thousand copies since August last year.
Against the background of weak sales of the game, Frontier Developments lowered its forecast for the fiscal year, which will end on May 31, 2023. Now he expects to earn by the end of the year not £135 million, but £100 million.
