Cyberpunk 2077 is an action RPG video from 2020.
Alexander Sayganov | SOPA images | LightRocket via Getty Images
LONDON – Shares of CD Projekt from developer Cyberpunk 2077 increased on Thursday after Elon Musk expressed his admiration for the game.
Tesla’s CEO tweeted a photo of his company’s new sedan, the Plaid Model S, suggesting it would be able to run Cyberpunk, Witcher 3 and several other video games.
“It can play Cyberpunk,” said Musk. “The aesthetic of Cyberpunk is incredible, by the way.”
This tweet seemed to cause CD Projekt’s stock price to rise sharply on Thursday. The shares were up about 12.6% during afternoon trading. The journey was difficult after the release of Cyberpunk, as players complained about several bugs and poor performance on older consoles.
Sony even removed the game from its digital PlayStation Store because of the situation and said it would offer players a full refund. At the time, analysts said it was very rare for a console to remove an AAA game for quality reasons.
This trading week was marked by great volatility in the stock markets, fueled in large part by an explosion of amateur traders inspired by the Reddit r / WallStreetBets board flooding heavily sold stocks like GameStop and AMC.
Short selling is a strategy in which investors borrow shares of a stock to sell them at a certain price, in the expectation that the market value will fall below that level when it comes time to pay for the borrowed shares.
It is unclear whether the CD Projekt price jump on Thursday was the result of a slight squeeze. According to IHS Markit, 9.3% of CD Projekt’s outstanding shares are currently on loan. The action became more popular shortly after the public’s negative reaction to the game.
It would not be the first time that a tweet from Musk has raised some bullish stocks. A tweet from the billionaire that said “GameStonk” and linked to the subreddit WallStreetBets, helping GameStop shoot after hours on Tuesday.
And his tweet telling followers to “use Signal” – in reference to the encrypted messaging app that gained popularity after a reaction against a WhatsApp privacy update – prompted investors to raise the share price of Signal Advance, a small manufacturer of components.