CD Projekt RED has plummeted on the stock market since the release of Cyberpunk 2077
Publisher CD Projekt, which is behind developer CD Projekt Red, has lost more than 75% of its stock market value since the launch of Cyberpunk 2077 in December 2020. The cause is, of course, the poor reception of its futuristic action RPG, below expectations – despite good sales of more than 18 million as of April.
The poor launch of Cyberpunk 2077, a highly anticipated project after the success of The Witcher 3, has caused the company’s valuation to drop from 40 billion złoty – over $8 billion – down to around 10 billion złoty – about $2 billion. This stock market value brings CD Projekt, which remains of one of the largest companies in Poland, to figures not seen since 2017, when strong promotion for Cyberpunk 2077 had not started.
The stock also reflects the current situation of Poland’s Techland, which after releasing Dying Light 2: Stay Human have a value of 10.6 billion złoty – $2200 million – slightly higher than CD Projekt. The sequel to Dying Light also suffered some technical problems in its debut, but far from what was seen in Cyberpunk 2077, and in its first month it exceeded 5 million copies sold.
Content ambition for Cyberpunk 2077 has dropped, mostly because a lot of post-launch resources have gone into polishing the base game, but next year is expected to see the first story expansion in addition to new free content.
CD Projekt RED wants to get back to its most popular license as soon as possible, first with expansions for The Witcher 3, and especially with the upcoming The Witcher that will use Unreal Engine 5 technology to improve efficiency during development.