Stock For CD Projekt Red Fell 25% After Cyberpunk Delays
With all of the negative news surrounding CD Projekt Red recently, the stock for the company has dropped by 25% since August.
Cyberpunk 2077 has been in the news quite a bit recently and most of the news hasn’t been very positive. Reports of crunch have started to leak after the game has been delayed not once, but twice in the last few months. With all of the negative news, it has taken a toll on the stock for CD Projekt Red.
Per GamesIndustry.biz, CD Projekt Red’s share price has decreased by 25%. This comes at its peak just at the end of August.
The peak came right when the publisher/developer announced the new Witcher mobile game that Pokemon Go fans will find very familiar. During that peak in August, the market cap for the company was PLN 42.4 billion, which equates to around €9.6 billion. This is based on a price of PLN 461 per share.
On Thursday, that price had fallen to PLN 331. This is the lowest its been since April.
With all of that said, that stock will for sure rise once the game is finally released. The hype around this title has been so large that it is almost a guaranteed success. Unless there is another delay, I don’t think we will see stock for CD Projekt Red take a dive for quite a while.
Cyberpunk 2077 is set to release on December 10 for PC, PS4, and Xbox One. The game can also be played on the upcoming PS5 and Xbox Series X|S thanks to backwords compatibility. A next-gen upgrade that has been developed specifically for the new consoles is on the way as well and will be free to all of those who had purchased the game before.