Until a few months ago, CD Projekt Red was considered a popular and exemplary studio by fans. Due to numerous headlines, however, the image has suffered a lot recently, as has the value of the shares.
CD Projekt Red: The reputation is suffering
Between August and today there was a lot of negative headlines regarding CD Projekt Red. Developers unpacked about poor pay, crunch times and poor communication, plus several postponements from Cyberpunk 2077. CD Projekt Red told investors during a meeting that everything was not that bad, but then apologized to the staff. The house blessing hangs crooked.
Big loss at CD Projekt Red
Now there is the receipt for the studio. The share price has been around a whopping high since the high in late August 25% liked it and has reduced the market capitalization by almost 2.5 billion euros.
This peak coincided with the announcement of a new Witcher mobile game in the style of Niantic's Pokémon Go. On August 27, CD Projekt Red's market capitalization was PLN 42.4 billion – around EUR 9.6 billion – at a price of almost PLN 461 per share. Now the share price has fallen to between PLN 331 and PLN 346 and has thus the lowest level since April 2020 reached.
The current market capitalization of the Polish company is 33.4 billion PLN, which corresponds to around 7.2 billion euros.
Cyberpunk 2077: no more postponement?
After Cyberpunk recently achieved gold status in 2077, it was believed that the game would launch on November 19th as planned. Nevertheless, the studio needs more time to deal with the current versions of the planned ports.
CEO Adam Kicinski believes it will no further delays because the latest setback is very different from the previous ones. Accordingly, Cyberpunk 2077 is expected to be released on December 10, 2020. We will keep you up to date.