Investors rage by Cyberpunk 2077
The British investment fund Abri Advisors, which invested in the development of Cyberpunk 2077 and owns part of the shares of CD Projekt RED, demanded the removal of the heads of the Polish company Adam Kicinski and Marcin Iwinski, as well as oblige the new leaders to present a public plan how the company is going to correct its mistakes and restore the brand and trust as shareholders and players alike.
What's going on inside CD Projekt RED over the past year and the release of Cyberpunk 2077 have been disappointing. So, after the release of Cyberpunk 2077, the value of the holding's shares fell by 57% and the fund lost about $6.2 billion. The head of the foundation Jeffrey Tirman is shocked by the number of mistakes made by the current management.
"I don’t think you could have intentionally tried to make so many mistakes as these guys have made. It’s really shocking", - Jeffrey Tirman, CEO of Abri Advisors.
As noted in Bloomberg, British investors are unlikely to be able to change the leadership of CD Projekt. 3/5 of the shareholders of the Polish company must vote for this.
How many shares Abri Advisors own is unknown - its head only said that the fund is not reducing, but increasing its stake. At the same time, Adam Kicinski and his brother Marcin own almost 34% of CD Projekt's shares and therefore have a stronger influence on the board of trustees.
For investors who have purchased shares of the CD Projekt RED Phoenix Investments can give a signal in the long term, it's a target at 230.00 level.
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