Poland's CD Projekt shares tumble as strategy update falls flat

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GDANSK (Reuters) - Shares in Polish video games maker CD Projekt dropped almost 15% to a two-year low on Wednesday after a strategy update aimed at rebuilding investor confidence after a bug-ridden game launch last year backfired.
Analysts said the update gave few details on plans beyond 2021, and some were disappointed by changes to the proposed multiplayer version of its flagship Cyberpunk 2077 game.
CD Projekt shares, hit by the botched launch of Cyberpunk 2077 last year, were down 14.7% to 185.8 zlotys at 1220 GMT. The company's market value has more than halved since December and now stands at around 20 billion zlotys ($5 billion).
CD Projekt said late Tuesday it planned to transform its studio and change the way it develops new products so it can start producing high-budget games in parallel from 2022, while also seeking ...


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