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CD Projekt Red’s share price has fallen in the past two months due to negative reports about the company and the Cyberpunk 2077 delay.
Shares of CD Projekt Red have plummeted amidst Cyberpunk 2077 delays and negative reports surrounding the company’s notorious crisis practices. CD Projekt Red’s share price hit the lowest point since April, which is approximately 25% lower than its previous peak. It is currently unclear if the price will start to rise once again in the short term.
The last few months have been very tough for CD Projekt Red as it has failed to deliver on its release date promises, as well as its promise not to force employees to work overtime. After telling fans earlier this year that Cyberpunk 2077 The developers would not have to resort to decisive time to finish the game on time, it was revealed that this was not true. However, the problem here is that in addition to that, CD Projekt Red still won’t be able to finish on time, so Cyberpunk 2077 it is delayed until December, the third time this year that it has been delayed.
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A report from Gamesindustry.biz has shown that CD Projekt Red’s share price has fallen by 25% in the last two months. By the end of August, the company had reached one of its highest market capitalizations, approximately $ 11 billion. Amid all the negative press the company has received, though that cap has been lowered significantly recently and, two days ago, it was down about $ 3 billion. CD Projekt Red’s share price is starting to stabilize, but it doesn’t look like it’s going to rise again anytime soon.
Gamesindustry.biz He also notes that CD Projekt Red’s market performance began to outpace rival company Ubisoft in May, but they predicted even then that this would not last long. CD Projekt Red’s performance depended too much on the enthusiasm surrounding Cyberpunk 2077, while Ubisoft has many future games in the works to stabilize its price. This has proven to be true, as Ubisoft now has a 40% higher share price than CD Projekt Red.
Cyberpunk 2077 is one of the most anticipated games of the decade, let alone this year. Players have been waiting a long time to get their hands on it, so it’s no wonder that delaying it once again has hurt the company’s market performance. The hope is that CD Projekt Red can once again benefit the public when Cyberpunk 2077 finally frees.
Cyberpunk 2077 It will be available for PS5, Xbox Series X / S, PS4, Xbox One, and PC on December 10, 2020.
Source: Gamesindustry.biz
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