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EEC MARKETS – Stocks gain, Czech koruna retains gains on rate hike hopes

By on April 22, 2021 0

Bloomberg

How Cyberpunk took CD Projekt from hot stock to Europe’s worst

(Bloomberg) – Around the same time last year, CD Projekt SA was among the hottest stocks in Europe, riding the wave of pandemic gaming demand and on track to hit an all-time high ahead of the release of the The studio’s highly anticipated Cyberpunk 2077 game. 12 months, the title is the worst performing in the region in 2021, down 63% from its August record as the company faces questions about how it plans to address issues related to the release sloppy game full of bugs. in short Thursday when CD Projekt reports on a year that included the build-up, release and disappointment of the besieged title. While preliminary data has shown an increase in profits over Cyberpunk’s initial sales, the main focus will be on any commercial updates for this year and comments on how the studio will deal with the catalog of issues that have transformed one. potential blockbuster involved in a collapse in stock prices. “There is still more risk than reward for CD Projekt owners, because without visible improvement in player ratings the studio will not be able to achieve strong sales for this year,” Michal Wojciechowski said by phone. , analyst at Ipopema Securities SA. “While some traders may be looking for a tactical advantage, we still don’t know if the studio will be able to quickly improve its key franchise, and the next games are slated for a long way into the future.” Starring Keanu Reeves, Cyberpunk 2077 is a complex, futuristic role-playing game set to take the gaming world by storm when it launches on December 10. But it wasn’t long before gamers reported multiple issues, sparking negative reviews and triggering Sony Corp’s unprecedented move. remove the title from its PlayStation Store.A strategy update late last month did not address concerns about how the Polish company was going to make a turnaround, only showing that Cyberpunk was not yet ready for the full multiplayer version which could restore its popularity. It has also left unanswered questions about when CD Projekt will be ready with an updated version for next-gen consoles. Cyberpunk SalesThursday results, expected after markets close, should further shed light on a shortfall of 9%, reported by the company in preliminary figures late. Last week. A key figure for analysts will be how many copies of Cyberpunk sold last year and whether that contributed to the failure. The average estimate of 10 analysts polled by Bloomberg is 14.5 million units, reflecting strong pre-orders that have allowed CD Projekt to report quarterly net profit on a scale comparable to its combined profit over the past five years. the blow to shareholders in recent months by offering a dividend, which he avoided in the past. Estimates point to a potential payout of 5 zloty per share, which equates to a 2.7% dividend yield, but it’s likely to be as good as it gets. Reflecting the current uncertainty, Cyberpunk’s sales estimates in 2021 range widely from 4 million units to 17 million units, with the average projection falling to 10.8 million copies. These calculations depend on how quickly the game can be restored to Sony’s PlayStation Store and made available for next-gen platforms. know that first quarter sales are disappointing, ”Wood & Co. analyst Maria Mickiewicz said via email. CD Projekt declined to comment before the results. to buy, according to data compiled by Bloomberg. “It would take a serious positive move in unit sales for Cyberpunk 2077, and a return of engagement from current owners” for faith to be restored, said Matti Littunen, analyst at Bernstein. “In other words, solid data proves that there remains a major franchise value.” 27: Stocks hit record high ahead of Cyberpunk 8 release: Stocks drop 7.1% as early press reviews fail to meet high hopes for Title 10: Cyberpunk launches with 8 million ‘copies sold on pre-order, but shares still fall 8.5% as gamers report numerous issues 18: Sony Removes Cyberpunk from PlayStation Store, Sinking Stock to Lowest Since March March 29: Studio Releases a big fix to fix almost 500 bugs March 30: Strategy update does not provide a clear path to fix the franchise, pushing the stock to its lowest level in 2 years April 15: Stocks drop to their highest low for 13 months after company unexpectedly released preliminary fiscal 2020 data, delaying full report by 4 days