Elon Musk has just given the shares of Poland’s largest computer game maker a turbo boost, getting excited about CD Projekt SA’s Cyberpunk game on his Twitter account.
The company’s shares grew by up to 19%, the highest since June 2015 and with a trading volume almost six times higher than the three-month average, according to the CEO of Tesla Inc. posted on Twitter On Thursday, “the aesthetics of Cyberpunk is incredible.” A few hours earlier, the billionaire wrote on Twitter that it will be possible to play the complex and futuristic game on the new Tesla Model S Plaid.
Shares of CD Projekt rose this week, along with some of the shortest stocks in Europe, in an echo of a similar rally in the US, where retail investors battled short sellers, gathering in names like GameStop Corp. . The Polish game studio grew more than 40% in four days.
The problems in the long-awaited Cyberpunk game, released in December, have caused Sony Corp. to give up the title in its PlayStation store in an unprecedented move for the industry. But he has a short interest in shares began to fall from the record level of 10% seen earlier this month. Melvin Capital Management LP was among the funds with a short position on CD Projekt shares.
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Musk first showed interest in CD Projekt’s largest production ever in 2019. Shortly after the game was unveiled last month, Musk posted on Twitter that he played it short and that “it looked pretty good.”
And the Polish game maker is not the only stock to benefit from Musk’s tweets this week. On Tuesday, the shares of Etsy Inc. they grew as Musk praised the company after buying a gift on the e-commerce platform for his dog.
Shares of CD Projekt, which had fallen after the troubled debut of Cyberpunk, ended the session 16% higher. The studio released a major patch over the weekend to fix the errors in the game, followed by a smaller solution on Thursday.
(Update shares, add trading volume, reference to Melvin Capital in paragraph 4.)