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Stock Alert: Unity Software Tumbles After Touching New 52-week High

(RTTNews) - Shares of Unity Software Inc. (U) are losing more than 7 percent or $7.70 in Friday's morning trade at $93.26, after touching a new 52-week high of $103.97 despite no company-centric news.

U.S. stocks are mixed on Friday amid continued optimism that lawmakers in Washington will eventually reach an agreement on a new stimulus bill. However, a notable drop of shares of Intel Corp. (INTC) weighed on the tech sector, after the semiconductor giant reported third-quarter earnings that beat analyst estimates but on weaker than expected revenues for its Data Center Group.

California-based Unity Software operates a real-time 3D development platform that provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets and other devices.

Unity Software has traded in a range of $65.11 to $103.97 in the past 52 weeks.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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