Video game fan Elon Musk gave a further boost to Polish game producer CD Projekt’s stock on Thursday after the company’s update to its flagship game prompted short sellers to close their positions earlier this week .
CD Projekt’s stock is worth nearly 37 billion zlotys (approximately Rs 71,960 crore), which rose 19% on Thursday, bringing its total earnings so far this week to more than 50%.
As gamers were disappointed with the company’s “Cyberpunk 2077”, CD Projekt’s stock price took a hit at the end of 2020. Since then, the company has been making improvements.
Musk said on Twitter: “The aesthetics of cyberpunk is incredible…” told his 43 million followers on Thursday.
In cyberpunk, even if it is a patch, there are literally patches, but… a great game
-Elon Musk (@elonmusk) January 28, 2021
It is said that earlier this week, Melvin Capital (Melvin Capital) promoted CD Projekt’s growth by closing its losses to GameStop and other companies and liquidating its short positions.
Trigon DM analyst Kacper Kopron said: “This is to squeeze money out of short positions. Musk’s Twitter adds to this.”
Some analysts and sources said that rising stock prices have also led to rumors that the company may become a target for acquisition.
CD Projekt declined to comment.
In addition, shortly after Musk tweeted that the company was “great”, in after-hours trading on Thursday, the shares of Canadian e-commerce platform Shopify, listed in Canada, rose 3.5%.
Thomson Reuters 2021 ©
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