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Summary
- CD Projekt Red’s Cyberpunk 2077 series has triggered much anticipation among gaming enthusiasts as it is coming out after a long wait of eight years since its first teaser in 2012.
- CD Projekt Red stocks are up over 47 per cent this year and almost 10 per cent in the last six months.
- Great Canadian Gaming’s shares shot up nearly 35 per cent on November 11, a day after the company made its acquisition news public in November.
While online gaming and esports businesses boomed during the COVID-induced homebody economy period this year, outdoor sports facilities took a hit due to mandatory lockdown restrictions. With that in mind, let’s explore the stocks of Polish video game company CD Projekt Red (WSE: CDR) and homegrown enterprise Great Canadian Gaming Corp (TSX:GC).
CD Projekt Red has been creating quite the buzz for its well-known online game Cyberpunk 2077, which is set to release around the world on December 9 and 10.
Stocks of Great Canadian Gaming Corp have been trending for a while now since New York-based private equity firm Apollo Global Management agreed to acquire the company for about C$ 2.16 billion in November.
CD Projekt Red (WSE: CDR)
Current Stock Price: 383.6 Polish złoty
CD Projekt Red’s Cyberpunk 2077 series has triggered much anticipation among gaming enthusiasts. The latest edition is coming out after a long wait of eight years since its first teaser in 2012.
Cyberpunk 2077 is said to be available on PC, PlayStation 4, Stadia, Xbox One, next-generation PlayStation 5 and Xbox Series X/S.
Its developer CD Projekt Red, which has also come up with the successful gaming series called ‘Witcher’, recently addressed concerns regarding the latest game triggering epilepsy episodes with its graphics.
Stock wise, CD Projekt Red shares took a steep tumble ahead of Cyberpunk 2077’s global release. The stocks swooped by about 10 per cent between December 7 and 9.
The game stock, however, are up over 47 per cent this year and almost 10 per cent in the last six months.
The gaming company is publicly listed on the Polish Stock Exchange under the ticker of ‘CDR’, and is currently priced at 383.6 Polish złoty (approximately C$ 132.36).
Great Canadian Gaming Corp (TSX:GC)
Current Stock Price: C$ 37.1
Gaming and hospitality company Great Canadian Gaming’s shares shot up nearly 35 per cent on November 11, a day after the company made its acquisition news public. Overall, in November, the scrips climbed by almost 70 per cent in value, though they are down nearly 14 per cent year-to-date.
The stocks have slumped by about four per cent month-to-date but they continue trend high on the Toronto Stock Exchange.
Though its casinos and other gaming facilities reopened in phases around September, the temporary ban due to the COVID-19 lockdowns put a dent in the company’s third quarter financial results.
©Kalkine Group Image
Great Canadian Gaming reported a cash outflow of C$ 26.3 million in Q3 2020, which was down from C$ 97.8 million in Q3 2019. It also incurred a negative free cash flow of C$ 54.8 million in the latest quarter.
