No wonder it recently announced a new Witcher game.
paints a grim picture for CD Projekt: the company's value has cratered by over 75% since just before the launch of Cyberpunk 2077. A business that once boasted a market capitalisation of over 40 billion Polish złoty—briefly becoming theIn the weeks leading up to Cyberpunk's launch, CDP shares were trading at around zł400 each, hittingonly 6 days before the game's release.
In simpler terms, this basically means that the reception of Cyberpunk 2077 and CDP's subsequent firefighting of the problems has shorn off 5 years' of the company's overall value. This is despite Cyberpunk 2077 selling almost 14 million copies in 2020 alone. Ever since launch the developer has been largely focused on fixing problems with the game : and the multiplayer mode that was once promised is now not happening.
The company's post-Cyberpunk plummet has left its market cap trending around a level equivalent to its value in 2017. While it's probably to be expected that a game company's value would drop a bit after their much-hyped game finally released, the dizzying scale of CDP's fall can hardly be interpreted as anything but a result of Cyberpunk's mismanagement.
Perhaps more galling for CDP is the possibility that they are no longer Poland's biggest game studio. Business Insider Poland draws on some maths done by Puls Biznesu, a Polish business daily, to suggest that Techland might now be Poland's biggest game company by market cap.
It's not the end of the world for CDP: the company still sits comfortably in the WIG20 index of the 20 biggest companies on the Warsaw stock exchange. In 2017, CDP was still in the afterglow of The Witcher 3's release, and had only released its last DLC a year prior. Returning to a 2017-era market cap, then, doesn't mean CDP is on the verge of shutting up shop, but it does show that what's happened with Cyberpunk has hurt the studio.
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