The company’s shares rose 19%, its highest increase since June 2015
Shares of CD Projekt skyrocketed yesterday while Elon Musk tweeted about Cyberpunk 2077.
The CEO of Tesla announced that his latest car, the Model S, could play Cyberpunk, before adding: “The aesthetics of Cyberpunk are amazing [by the way]. “
Following this tweet, CD Projekt shares rose 19%, their highest increase since June 2015, while trading volume came to six times the three-month average, Bloomberg reported.
It is the second time this week that Elon Musk has affected a company’s shares, after GameStop shares continued to skyrocket on Wednesday after a tweet from the billionaire.
Shares of CD Projekt have fluctuated recently, following uncertainty over Cyberpunk 2077. The developer’s share price fell 25% in October after a spike in late August amid crisis reports and another Cyberpunk delay.
After the game was finally launched in December, its shares fell another 29%, with the studio’s stock price drop costing 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 on fire for its numerous bugs on the consoles, and the developer later apologized for not being transparent about the title’s performance.