CD Projekt Red Drops 25% in Market Value
As Cyberpunk 2077 draws closer, will it be able to help CD Projekt Red accrue some of it’s lost market value?
Following the controversial crunch conversation and the third delay of Cyberpunk 2077, CD Projekt Red’s market price has fallen by 25%.
For backstory, CDPR started the year off on around £5.2/$6.8 billion. Then, following the success of The Witcher Netflix show, the company sat at around £6.1/$8 billion in February.
The company’s stock peaked at around £7.4/$9.6 billion in August.
During that time, CDPR has been working up to the release of Cyberpunk. Initially slated for a release in April 2020. Then that was pushed back to September, and then November, and, just recently, the game is [currently] stated for a release 10th December.
Meanwhile, as recently as September, CDPR announced a company-wide crunch period. As a result, the studios’ market value dropped by 25%, or around £2 billion off the top.
To say it’s a difficult time for the studio, or the studio’s fans would be an understatement. The question now is, will Cyberpunk actually make its release date? Time will tell.
