The company’s stock rose 19%, its biggest increase since June 2015
CD Projekt’s stock soared yesterday when Elon Musk tweeted about Cyberpunk 2077.
Tesla’s CEO announced that his latest car, the Model S, could play Cyberpunk, before adding: “The aesthetic of Cyberpunk is incredible [by the way]. “
After that tweet, CD Projekt’s shares rose 19%, its biggest increase since June 2015, while turnover reached six times its three-month average, Bloomberg reported.
It is the second time this week that Elon Musk impacts a company’s stock, after GameStop’s stock continued to rise on Wednesday after a tweet from the billionaire.
CD Projekt’s shares have been fluctuating recently, after uncertainties surrounding Cyberpunk 2077. The developer’s share price fell 25% in October, after a peak in late August, amid reports of crisis and another Cyberpunk delay.
After the game was finally released in December, its shares fell another 29%, with the studio’s stock price dropping its founders more than $ 1 billion in wealth. In late December, CD Projekt’s own investors were exploring the possibility of suing the developer for misrepresenting Cyberpunk 2077.
The game was under pressure due to its numerous console bugs, with the developer apologizing for not being transparent about the title’s performance.