The technical glitches plaguing CD Projekt Red’s Cyberpunk 2077 game have cut more than US$1-billion (R15-billion) off the wealth of the company’s founders. Perhaps more seriously, the quality-first image of the studio has been shaken, and may not be easy to win back.
CD Projekt shares plunged by a third over the past six days as the number of bugs plaguing the highly anticipated futuristic game prompted an apology from the firm and an offer for refunds of gamers on previous-generation consoles. Short sellers have also started targeting the stock, with short interest up from less than 1% of free float in September to 8.3% on Monday, according to Markit data.