CYBERPUNK 2077 Stock Took A Rather Steep Dive After CD Projekt RED Recently Delayed The Game
New information has revealed that stocks for Cyberpunk 2077 took a rather steep dive after developer CD Projekt RED recently announced that they were delaying the game once again.
New information has revealed that CD Projekt RED's stock has taken a rather steep dive, as the Polish company's share price drastically drops by 25%, which amounts €2.5 billion from the company's market capitalisation.
CD Projekt RED's market capitalisation was PLN 42.4 billion(€9.6 billion) in August, when the company's stocks were at its highest this year; a peak that is attributed to the announcement of a new Witcher game for mobile devices. It was on Wednesday of this week that the company's share price fell to PLN 331, which is the lowest point since April of this year.
For further reference, CD Projekt RED's current market capitalisation is PLN 33.4 billion, which amounts to €7.2 billion or $8.5 billion in US dollars.
It is reasonable to think that this drop was registered mainly due to the fact that CD Projekt RED announced earlier this week that they were delaying the release of Cyberpunk 2077 once again, and this is exactly the case. This year alone, the developer had already pushed back the release of the highly anticipated title twice; three times with the latest delay.
CD Projekt RED was also recently accused of having their staff work extra hours in order to speed up development on Cyberpunk 2077, which could have also had a negative impact on the company's stock, and has also faced backlash due to the delay of the highly anticipated title.
For the sake of comparison, GamesIndustry.biz conducted a study in which they compared the fortunes of Ubisoft and CD Projekt RED, concluding that the latter's performance in the market was heavily influenced by the hype that surrounded Cyberpunk 2077; making it remain higher than Ubisoft, who don't really rely on just the one game, in terms of market capitalisation.
Ubisoft's market capitalisation is currently €10.2 billion, which is still over 40% higher than that of CD Projekt RED, although it is worth mentioning that Ubisoft is a bigger company and, for this reason, it has the capability to develop more titles than the Polish studio.
In the most dangerous megacity of the future, the real you is not enough. Become V, a cyber-enhanced mercenary outlaw going after a one-of-a-kind implant — the key to immortality. Customize your cyberware and skillset, and explore a vast city of the future obsessed with power, glamour and body modification. The choices you make will determine the story and shape the world around you.
Cyberpunk 2077 will be releasing for the PlayStation 4, PlayStation 5, Xbox One, Xbox Series X/S, PC, and Stadia on Thursday the 10th of December.