The company’s share was up 19%, the highest increase since June 2015
CD Projekt’s stock rose yesterday when Elon Musk tweeted about Cyberpunk 2077.
Tesla’s CEO announced that his latest car, the Model S, could play Cyberpunk, before adding: “Cyberpunk’s aesthetic is incredible [by the way]. “
Following that tweet, CD Projekt’s stock rose 19%, its highest increase since June 2015, while trading volume reached six times the three-month average, Bloomberg reported.
It’s the second time this week that Elon Musk has had an impact on a company’s stock after GameStop’s stock continued to rally on Wednesday following a tweet from the billionaire.
CD Projekt’s stock has been fluctuating lately due to uncertainty surrounding Cyberpunk 2077. The developer’s stock price fell 25% in October after peaking in late August amid reports of crunch and yet another Cyberpunk slowdown.
After the game finally launched in December, the stock fell an additional 29%, with the studio’s declining stock price costing its founders more than $ 1 billion in wealth. In late December, CD Projekt’s own investors were reportedly investigating the possibility of suing the developer for misrepresenting Cyberpunk 2077.
The game came under fire due to the many bugs on consoles, with the developer later apologizing for not being transparent about how the title would perform.