The botched launch has financially humbled the former 'biggest games company in Europe.'
A new report from Business Insider Poland 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 the most valuable games company in Europe—is now worth less than zł10 billion.
In the weeks leading up to Cyberpunk's launch, CDP shares were trading at around zł400 each, hitting zł443 a share only 6 days before the game's release. The story since then has been one of sharp falls and brief plateaus: with CDP shares and market cap halving in value in the first few months of 2021, then almost halving again since the end of March this year.
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. The numbers on this one are pretty fuzzy, though: Techland aren't listed on a stock exchange, so Puls Biznesu had to guess at what their share price would be to arrive at its final estimate of a market cap of around zł10.6 billion.