CD Projekt Red's shares value drops by 25% in two months
It has been reported that Cyberpunk 2077's developer CD Projekt Red's shares value has dropped by 25% in two months. The main reason for this steep fall is the negative reports due to delay in their latest action-adventure game: Cyberpunk 2077.
The share price value peaked in late August 2020 after a new Witcher title for mobile was announced which would be similar to PokemonGO. At that time, each share was worth $116 and as of October 30, the prices have dropped by 25% to $84.
A rocky road for CD Projekt Red
In these last two months, CDPR went through a lot of ups and downs with Cyberpunk 2077 being the centre of attention. This dystopian role-playing game created a lot of controversies since it was first announced in May 2012.
The game was set to release on April 16, 2020, 8 years after the announcement. Unfortunately, due to unforeseen events and COVID19's onslaught this year, the game kept on getting delayed. Cyberpunk 2077's release was already postponed twice and last week, CDPR sent out a tweet saying that the release date was being pushed forward again, for the third time.
According to reports, CDPR called a meeting with its investors explaining the latest delay. CD Projekt Red CEO Adam Kicinski also stated that there will be no more delays in releasing Cyberpunk 2077. The latest delay was caused due to the games compatibility issues with current-gen consoles while the previous ones were caused due to technical difficulties and CDPR needed more time for balancing and bug fixes etc