CD Projekt RED loses $641 million in shares over Cyberpunk 2077 mess

CD Projekt RED has lost over $641 million in share value since Cyberpunk 2077's release, console fiasco has cost the company big.

Published Wed, Dec 16 2020 3:37 PM CST   |   Updated Tue, Jan 12 2021 8:35 PM CST

Cyberpunk 2077's console controversy has cost CD Projekt RED over half a million dollars in share value.

CD Projekt RED loses 1 million in shares over Cyberpunk 2077 mess 32 |

CD Projekt RED has lost over $641,000,000 in share value since Cyberpunk 2077's disastrous console launch. The game's poor performance on PS4 and Xbox One has triggered significant controversy, harming consumer trust. In a call with investors, the developer has admitted to focusing more on PC and next-gen versions, and admits it purposefully hid evidence of the game running on current-gen consoles. CDPR also promises to fix the game on PS4 and Xbox One.

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This fiasco has significantly impacted CDPR's shares. At the time of writing, CD Projekt RED has 100,654,624 shares that're worth $21.31 each. A quick bit of math shows CDPR currently has a market value of $2.14 billion, down 23% since CP2077's release. CD Projekt RED had a $2.7 billion market value on December 9, a day before Cyberpunk 2077's release.

The farther we go back, the worse the drop becomes. On December 4, CDPR's shares were worth $31 a piece. As of today, December 16, they're worth $21.31 a piece. That's a 31.2% decline.

The developer previously touted that Cyberpunk 2077 had achieved 8 million pre-orders, 8x that of The Witcher 3, and that the game's full development costs had been paid off before the title even released. Consoles made up 41% of that, or 3.28 million.

Now the company is being impacted by refunds and negative sentiment.

Here's a breakdown of CD Projekt RED's capital, shares, and executive cuts:

CD Projekt RED loses $641 million in shares over Cyberpunk 2077 mess 44 |
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Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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