Elon Musk’s ‘Cyberpunk is playable in Tesla’ tweets boost CD Projekt shares

Shares in CD Projekt soared after Tesla and SpaceX CEO Elon Musk tweeted positively about Cyberpunk 2077.

The company’s stock jumped as much as 19% on Thursday, its highest increase since June 2015, after the influential billionaire entrepreneur tweeted that the game is playable on Tesla’s new Model S Plaid.

“The esthetics of Cyberpunk are incredible,” he said, before later calling it a “great game”.

The comments from Musk, who has 43.9 million Twitter followers, led to a flurry of investor activity as trading in CD Projekt shares hit almost six times the three-month average and its stock ended the session up 16%, Bloomberg reports.

CD Projekt’s stock has fluctuated heavily in recent months. It tumbled following Cyberpunk 2077’s troubled launch on December 10, when the game released with a host of technical problems and CD Projekt said it would offer refunds to unsatisfied customers.

The negative reception to its release resulted in CD Projekt shares dropping by over a third in the week following its release, reportedly wiping over $1 billion off the wealth of the company’s founders, although its shares have rallied this week along with some of Europe’s most-shorted stocks.

Retailer GameStop also surged 50% on Tuesday after Musk tweeted “Gamestonk!!” and linked to a stock trading discussion group, while Bitcoin was up as much as 14% on Friday after he changed his Twitter biography to “#bitcoin”, Reuters reports.

On January 13, CD Projekt’s co-founder and joint CEO Marcin Iwinski issued a public apology for Cyberpunk 2077’s troubled launch and outlined the company’s commitment to improving the game via a series of performance-enhancing patches, which will be followed by DLC and a next-gen update later in 2021.

Developer CD Projekt Red released a hotfix on Thursday which addressed a game-breaking bug in the main story quest.

Despite its issues, Cyberpunk 2077 reportedly had the biggest digital video game launch in history, both in terms of units sold and revenue generated during its release month.

Further reading

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