CDPR Stock Experiences Biggest Jump In 5 Years Thanks To Elon Musk
Elon Musk is having a big impact on gaming stocks this week. First GameStop, and now CD Projekt Red.
This week has been a wild one when it comes to the relationship between Wall Street and video games. GameStop’s soaring stock price, which was started by a movement on reddit, has been making headlines all over the world. The situation has become so serious that the US government is keeping an eye on the situation as it continues to develop.
Elon Musk threw gasoline onto an already raging fire earlier this week by simply tweeting about the whole thing. That wasn’t the only way he would influence video game stocks this week either. To celebrate the release of Tesla’s Model S, Musk shared a photo of the car’s interior. He then replied to his own tweet by revealing Cyberpunk 2077 can be played on its center console.
“The esthetics of Cyberpunk are incredible btw,” Musk added in a follow-up tweet. It seems a person as influential as Musk tweeting a throwaway compliment about a game is a big deal. Cyberpunk developer CD Projekt Red’s stock value rose by 19% after the tweets. That’s the biggest increase it has experienced since June 2015, and the dev’s trading volume was six times that of its three-month average.
Cyberpunk isn’t the only game you will be able to play in your new Tesla. Last week, Musk also revealed that you’ll be able to play The Witcher 3 in the comfort of your car too by asking who exactly would want to do that. In fact, even though Musk hasn’t officially endorsed any other titles, we’re assuming most games can be played in the new Tesla. It can handle The Witcher 3 and Cyberpunk, after all.
It has been something of a wild ride for CDPR shareholders over the course of the past six months or so. After peaking in August, the company’s stock value fell by 25% following the reveal that Cyberpunk’s release had been delayed yet again. CDPR stock value then dropped another 29% when Cyberpunk was eventually released due to the game’s problems at launch. There have even been reports CDPR’s investors plan on suing the company for misrepresenting Cyberpunk’s state prior to release.
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