Shares in CD Projekt which is valued at almost 37 billion
zlotys ($9.87 billion), jumped as much as 19% on Thursday, bringing the total
gain so far this week to more than 50%.
CD Projekt's shares were hit at the end of 2020 following
gamers' disappointment with the company's Cyberpunk 2077. Since then the firm
has been working on improvements.
Musk tweeted: "The esthetics of Cyberpunk are
incredible btw...," to his 43 million followers on Thursday.
Earlier this week Melvin Capital was said to be driving the
gains in CD Projekt by closing out its short positions following losses betting
against GameStop and others.
With Cyberpunk, even the hotfixes literally have hotfixes, but … great game
— Elon Musk (@elonmusk) January 28, 2021
"This is about squeezing out funds from their short
positions. Musk's tweet has added to that," said Kacper Kopron, analyst at
Trigon DM.
Some analysts and sources said the rising share price had
also led to rumours that the company could be a takeover target.
CD Projekt declined to comment.
Separately, U.S.-listed shares of Canadian e-commerce
platform Shopify Inc rose as much as 3.5% in after-hours trading on Thursday
shortly after Musk tweeted that the company "is great".
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