Cyberpunk 2077 developer CD Projekt’s stock is now down more than 75% after the game’s rocky launch.
As Business Insider Poland reported, CD Projekt, which was valued at over 40 billion Polish złoty before Cyberpunk 2077 was released in December 2020, is now worth less than 10 billion.
The company now trades at a similar valuation to its 2017 figures, and CD Projekt is no longer Poland’s most valuable games company, overtaken by Techland, developers of the Dying Light franchise.
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It should be noted that Techland’s figures are not public as they are not publicly traded like CD Projekt, however, Puls Biznesu estimates it could be around 10.6 billion złoty.
“With the buyback of 15 million shares for a consideration of 900 million PLN, one share is valued at 60 PLN. Assuming that the number of shares in the company is 175.94 million, the implied valuation of Techland is PLN 10.56 billion,” said Puls Biznesu. .
Cyberpunk 2077 was supposed to be one of the most important releases of the latest console generation, releasing just as the PS5 and Xbox Series X launched, but things went wrong at launch.
After three delays, the highly anticipated RPG was released for PC and consoles with a host of technical issues, resulting in refunds being offered and the game being pulled from the PlayStation Store.
After six months of patches designed to improve the game, it finally returned to Sony’s online marketplace in June 2021, when CD Projekt said it believed Cyberpunk 2077’s performance had reached a “satisfactory” level.
Earlier this year, CD Projekt said they have sold 18 million copies of the game and that the team is working on a major Cyberpunk 2077 expansion with a new storyline.
A current-gen patch for The Witcher 3: Wild Hunt is also in development.
The PS5 and Xbox Series X/S editions of the game were developed externally by Saber Interactive, who also previously handled the Nintendo Switch port of the game, but have now been taken in-house by CD Projekt in order to complete development.
A new entry in The Witcher franchise is currently in pre-production.