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Unity Software (U) Stock: Aggressive Strategy Brought 144% Rise Since IPO

The designer of the game engine Unity Software Inc. (U) continues to show the rally. The company is targeting new markets and at last day of the previous month announced collaboration with Autodesk Inc. (ADSK), a maker of engineering software.

In the common Autodesk ecosystem, Unity has taken another step towards incorporating its 3D graphics processing technologies. The real-time project management Unity Reflect solution is now available via the Autodesk ecosystem. It unites project participants on a common forum, enabling them, regardless of the type of computer or location used to work together. The service will be available in the Autodesk BIM 360 cloud, designed for designers, developers, owners and other professionals using the design and development of Unity technologies. Unity technology provides new features for Autodesk apps, such as collaboration in augmented reality (AR).

Since 2017, Autodesk and Unity have been working together to incorporate technologies, clouds, and other developments in virtual and augmented reality into modern workflows.

As multimedia is increasingly used in different devices and solutions including technology management systems, Unity continues to expand its market. Unity had previously entered the smart car industry, and the business remains one of the leading providers of the video game developer platform.

The company also beat analysts’ estimates in the third quarter as it posted an after adjustments loss of 9 cents per share on sales of $200.8 million in the third quarter. Analysts had predicted it would lose 15 cents per share on sales of $186.9 million.

Since its listing on the stock market in September this year, the aggressive strategy of the San Francisco, California-based company remained the key driver of its stock growth. Company’s stock is has gained 144.70 percent since then and over the past week, the value that has been added was 13.60 percent. Market capitalization of the company currently stands at $43.71 billion with stock price reaching to $167.25 at ring of the bell on Tuesday.

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