Business Insider Poland’s latest report says CD Projekt’s stock price is worth only a quarter of what it was pre-Cyberpunk 2077. The Polish video game giant was at one point the most valuable games company in Europe and the most valuable company in Poland.
In fact, CD Projekt was more valued than even Ubisoft while bringing home revenue ten times less than the French giant. Most industry experts claim this drop was expected and happened due to the overvaluation of the games company. The level of the drop is considered normal with “hyped stocks” and on top of that, the stock prices of numerous tech companies are also down by 75% or more.
Cyberpunk 2077 had a rocky launch period, the game was a buggy mess, to begin with, and the game failed to deliver most of its promises. Cyberpunk 2077 spent about nine years in the making but had way too many major issues that Sony removed the game altogether from its store. The game’s return rate was also quite high on other video game platforms such as Steam and didn’t receive the best reviews either. The AAA game was on sale for $5 on Epic with a discount coupon a year after its release.
While Cyberpunk 2077 sold more than 18 million copies in 2021 alone and has been redeeming itself with major patches, the game had a negative impact on the Polish company’s share price, no matter how you look at it. The overvalued prices were expected to go down eventually, but this level of a crash wouldn’t happen —most likely— if the game was a major success like its predecessor The Witcher 3.
Techland is the biggest Polish Studio now
Business Insider Poland’s report also claims CD Projekt is no longer the number one video game company in Poland. The report suggests in regards to market cap, Dying Light’s developer Techland is now the biggest Polish studio, however, this is more of a “guesstimate” as Techland isn’t listed on the public stock exchange.
The Polish video games giant is working on Witcher 4, and the next title in the franchise will use the Unreal Engine 5, unlike the prior games in the series which used CD Projekt Red’s in-house engine, except The Witcher which used the Aurora Engine.
