CD Projekt S.A. (OTCPK:OTGLF) Q1 2022 Earnings Conference Call May 26, 2022 12:00 PM ET Company Participants Adam Kiciński – President of the Board and Joint Chief Executive Officer Piotr.
Cyberpunk 2077 Cost CDPR Founders $1 Billion
The founders of CD Projekt RED are reeling from the botched release of Cyberpunk 2077 as refunds continue to roll out. CD Projekt RED shares plunged by a third over the past week, causing the founders to lose $1 billion of their wealth as a result. Marcin Iwinski, Adam Kicinski, Piotr Nielubowicz, and Michal Kicinski all seem to be taking a personal hit due to the Cyberpunk 2077 backlash. Cyberpunk 2077 is available right now on Xbox One, Xbox Series X/S, Google Stadia, and PC, with the PlayStation version being taken off the PS Store recently.
The three CD Projekt RED executives being specifically affected by the share price of the company are Marcin Iwinski, Adam Kicinski, and Piotr Nielubowicz, as well as the major owner of the company, Michal Kicinski. These executives have joined the ranks of the wealthiest Poland residents since the release of The Witcher 3, but it looks like Cyberpunk 2077 is going to continue taking a chunk o
Cyberpunk 2077 Launch Issues Cost The Founders $1 Billion
The highly anticipated RPG, which currently is only available for last-gen consoles (Xbox One/One X and PlayStation 4/Pro) and PC, has been utterly slammed by many for falling far short of performance standards, not only for struggling to maintain a consistent frame rate, but a cavalcade of technical issues ranging from visual glitches to outright game-breaking bugs. So huge has the discrepancy been between versions, in fact, that aggregate sites and reviews have since taken steps to inform consumers of the differences, with some even going so far as to accuse the developer of intentionally preventing console footage from being shown to the press or public until after launch.
Cyberpunk 2077 bugs cost CD Projekt founders R15 billion mybroadband.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mybroadband.co.za Daily Mail and Mail on Sunday newspapers.
Cyberpunk 2077 debacle costs founders US$1 billion of wealth
Konrad Krasuski, Bloomberg News VIDEO SIGN OUT
The technical glitches plaguing CD Projekt SAâs Cyberpunk 2077 game have cut more than US$1 billion off the wealth of the companyâs 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 per cent of free float in September to 8.3 per cent on Monday, according to Markit data.