Unity Software Inc. (U) saw its stock decline by 2.75% on November 26, 2024, closing at $23.36, down from the previous close of $24.02. The stock opened at $23.31 and fluctuated between a low of $22.79 and a high of $23.77 throughout the day, with a trading volume of 10,166,240 shares, which is 79% of its average daily volume. The decline was primarily driven by market-wide concerns following President-elect Donald Trump's announcement of potential tariffs on imports from Mexico, Canada, and China. The proposed tariffs, including a 25% levy on products from Mexico and Canada and a 10% levy on Chinese goods, have created uncertainty, impacting stocks across various sectors, including technology.
Additionally, Unity Software faced pressure from an insider sale by CFO Mark Barrysmith, who sold 8,112 shares on November 25th at an average price of $24.38, totaling $197,770.56. This insider activity may have contributed to the negative sentiment surrounding the stock. Broader market sentiment was also subdued, with major indices in Asia and Europe showing declines, further weighing on Unity's stock performance.