The much-anticipated release of “Cyberpunk 2077” is nothing short of a disaster for video game developer CD Projekt Red.
The Polish company has seen its stock drop 41% since the first reviews of the game surfaced on Dec. 7.
Sony pulled the beleaguered game from the PlayStation Store and said it will issue refunds. Best Buy is also offering returns on select versions, even opened games, through Dec. 21.
CD Projekt has fallen hard:
- Shares of the company dropped as much as 22% on Friday after the Sony news
- Friday’s drop follows a 25% dip the first three days following the Dec. 10 release
- CD Projekt’s market cap was $11.8 billion pre-launch and now sits at less than $7.2 billion
- CD Projekt’s four founders — who own 34% of its shares — have lost more than $1 billion in collective net worth
Even prior to the Sony news, CD Projekt had offered refunds and promised that patch updates released early next year would fix the game’s problems.
It’s not all bad: Cyberpunk’s issues have been for the console versions of the game — accounting for 41% of preorders. On PC, however, reviews for the game have been excellent.
Microsoft is offering refunds for the digital Xbox version, but has not removed the game from its store.