CD Projekt shares experience cyber drops

After the premiere of Cyberpunk, CD Projekt's shares continue to get cheaper, and the negative sentiment towards the company is intensified by recent reports of dissatisfaction with the console version of the game and information about reimbursement by Sony and Microsoft for people who purchased the game through them.
As indicated by analysts from the investment bank Jefferies, CD Projekt is currently implementing a scenario resulting from a combination of very low user reviews results, many errors, and the announced refunds for the purchase of the game by Sony and Microsoft platforms, which will affect the company's finances.
Already at the end of last week, they changed the market recommendation for the shares of the Polish game producer, setting a potential price of PLN 362 and moving from the HOLD recommendation to Underperform.
Among the reasons – apart from the disappointment with the console version of Cyberpunk – they also gave a not fully specified strategy that CD Projekt is to present at the beginning of next year and the relatively distant premieres of the next part of The Witcher (2024) and Cyberpunk in the form of a multiplayer (2022).
Monday brought a continuation of the sale of CD Projekt shares – the share price dropped by almost 15 percent, stabilizing after a very sharp opening around PLN 270 per share. The current price is about 40 percent lower than the historic peak set last Tuesday.
Thus, the company's capitalization fell to PLN 27 billion, which means that the stock market value of CD Projekt decreased by approximately PLN 18 billion in a week.