Video game fan Elon Musk gave another boost in Polish games producer CD Projekt on Thursday after the company ‘s update to their flagship game encouraged short sellers to close positions earlier in the week.
Shares in CD Projekt valued at nearly PLN 37 billion (around Rs. 71,960 crores), jumped as much as 19 percent on Thursday, bringing the overall gain so far this week to over on 50 percent.
Projekt’s CD shares hit the end of 2020 after gamers ’disappointment with Cyberpunk 2077. Since then the company has been working on improvements.
Musk tweeted: “Cyberpunk esthetics are amazing btw …,” to its 43 million followers Thursday.
With Cyberpunk, even the hotfixes have hotfixes, but… a good game
– Elon Musk (@elonmusk) January 28, 2021
Earlier this week it was reported that Melvin Capital was leading the gains in CD Projekt by closing out its short positions after a betting loss against GameStop and others.
“This is about making money out of their short positions. Musk’s tweet has contributed to that,” said Kacper Kopron, an analyst at Trigon DM.
Some analysts and sources said the rising share price was also rumored that the company could be a takeover target.
CD Projekt declined to comment.
Separately, shares of Canada’s e-commerce platform, Shopify, which was announced in the U.S. rose as much as 3.5 percent in after-hours trading Thursday shortly after Musk tweeted that the company “is good ”.
© Thomson Reuters 2021
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