CD Projekt Red’s stock has dropped by over 75 per cent, since the release of Cyberpunk 2077, which had a very troubled launch.
According to a report from Business Insider Poland (via VGC), the company was worth forty billion Polish złoty. It was also Europe’s most valuable game company. And now it is worth ten billion.
This is similar to its trading numbers back in 2017, a couple of years after releasing The Witcher 3: Wild Hunt. The company is no longer even the most valuable games company in Poland. That title belongs now to Techland, purveyors, most recently, of Dying Light 2 Stay human.
Although, it should be pointed out that Techland is not a publicly traded company. But, according to one estimate, from Puls Biznesu, it could about 10.6 billion złoty:
“With the redemption of 15 million shares for a consideration of PLN 900 million, one share is valued at PLN 60. Assuming the number of shares of the company at 175.94 million, the implied valuation of Techland is PLN 10.56 billion.”
Cyberpunk 2077 was a terrific game, hampered by an awful launch. In VideoGamer’s review, I said:
“My guess is that time, and a series of hefty updates, will patch CD Projekt’s reputation and cool the conversation around Cyberpunk 2077. Whether or not it should cool is another matter. In the meantime, we have a game unlike any other.”