Elon Musk's Cyberpunk 2077 Tweet Boosts CD Projekt Stock
The Telsa CEO caused CD Projekt SA's stock to surge 19% after tweeting about Cyberpunk 2077.
While CD Projekt SA faces multiple lawsuits over Cyberpunk 2077, the Polish-based company is seeing its stock prices surge after Telsa Inc. CEO Elon Musk tweeted about the open-world RPG.
The tech billionaire took to Twitter to advertise Telsa's new Model S Plaid, a remodel of the popular Model S electric car that Musk says can go from 0-60 mph "in less than [two] seconds" and retails for $112,990 when it ships in February. Alongside teasing the car's interior design, highlighting the touchscreen display on the dashboard with a picture of The Witcher 3's cover taking up half of the screen, Musk said the Model S Plaid can play Cyberpunk 2077.
In a follow-up tweet, Musk said the "esthetics of Cyberpunk are incredible" and it's this tweet that caused CD Projekt's stock to soar by as much as 19%, the highest since June 2015. According to Bloomberg, this surge is nearly six times the company's three-month average, with CD Projekt's stock cresting 40% in a four-day period. Despite the troubles the company is facing in light of Cyberpunk 2077's quality, CD Projekt's stock ended 16% higher. Developer CD Projekt Red has more patches planned for Cyberpunk 2077 to further stabilize the game. After that, the studio will start working on the game's free DLC and multiplayer offering.
It's worth pointing out that Musk's partner, musician Claire Elise "Grimes" Boucher, plays a role in Cyberpunk 2077, embodying one of Night City's many celebrities, Lizzy Wizzy. Grimes also contributes music to the game. Though he's not officially in the game, at least not confirmed to be in the game in any way, a particular Cyberpunk 2077 NPC looks eerily like Elon Musk.
News of CD Projekt's stock comes as the stock market is going through some unexpected turbulence following the "short squeezing" of GameStop's stock. The situation seems so untenable that the White House is "monitoring" to see whether it should intervene or not. Even the stock exchange and investing app Robinhood has halted the trading of GameStop stock.