CD Projekt stock surged following the announcement of an updated strategy. Overall, the company’s share price has risen by almost a third in the last 30 days.

Cyberpunk 2077 developer CD Projekt sees a 30% surge in share price

What’s going on with CD Projekt shares?

  • Last Friday, CD Projekt shares closed at PLN 116.22 ($23.21).
  • As of October 10, the company’s shares are trading at PLN 115 ($22.96). This is up 30% from PLN 87.79 ($17.53) on September 9, 2022.
  • Right now, CD Projekt stock is back to late spring levels, when it traded at a similar price on May 23.

  • This looks like a slight recovery, given that shares sank to 2018 levels earlier this year. In June, the price hit PLN 97.32 ($19.43) — the lowest since January 2018 — and continued to fall until September.
  • Despite the increase, CD Projekt’s share price is still far from its August 2020 all-time high when its stock traded at PLN 460.8 ($92.02) per share.

Why are CD Projekt shares going up?

  • Last week, the company presented its updated strategy, where it opened up about new games — five projects in The Witcher franchise, a sequel to Cyberpunk 2077, and a title based on the brand new IP — and opening a new studio in North America.
  • CD Projekt announced a share buyback. It plans to spend no more than PLN 100 million (around $20 million) on the program and will acquire no more than 2 million shares.
  • The goal of the buyback program, which will last until October 28, is voluntary redemption of shares. This move will likely have a positive impact on the company’s stock.

What do market analysts say?

  • One of the major concerns for investors here is that CD Projekt won’t be releasing any new titles in the near future. The Phantom Liberty expansion for Cyberpunk 2077 is expected to come out in 2023, and the next Witcher game will be launched in 2025 at best.
  • Most market experts expect a significant increase in CD Projekt’s costs. As reported by, the company’s updated strategy means “higher risks, higher investment expenditures, and a significant increase in development forces.”
  • The latter is especially true, given that CD Projekt will have to hire new staff in the US, where salaries are higher than the average in Poland.
  • Despite new challenges ahead, some experts think that the company has a chance to recover from its long-lasting downfall. “We believe that the goals presented by the company are ambitious, and their implementation will allow the company to enter a new, much higher level,” BDM analysts said.

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