They are held afloat by a few massive live service games, but every single one of their major releases this year has been a disaster. From the comedy of errors in their latest Assasin's Creed game, to the first ever "AAAA" flop Skull and Bones, to Star Wars outlaws, which was so bad the board announced a comprehensive internal review to figure out what went wrong, and the recent announcement of the sunsetting of their "COD killer" XDefiant. They can't coast off of Rainbow 6 Siege forever.

Their share price today is lower than in 2008. Unadjusted for inflation.

Ubisoft is always making profit but their profit margin getting smaller and smaller so that one day (if this continues), executives will begin to sack developers to keep their high salaries intact while pandering to shareholders.

The 2008 peak was around August, and then dropped sharply in November of the same year because they did a 2:1 stock split (i.e. the stock price halved but they doubled the number of stocks in circulation, keeping the companies value the same). Comparing the price of a single stock now to then is apples and oranges.