The roles reversed: CD Projekt no longer supports Polish gaming on the Warsaw Stock Exchange.
CD Projekt shares lose value
CD Projekt shares have recently risen sharply. During the first Monday session they fell sharply: the entire day the price dropped on the Warsaw Stock Exchange. We can guess the reasons. First, on May 28 we will see the company’s financial report for Q1 2026. Although the company earned a substantial profit for the entire 2025 year, investors now have some concerns. Why?
First, it’s worth recalling that CD Projekt recorded a consolidated net profit of 520.87 million PLN last year. Net profit was 594.71 million PLN. Why might things worsen in Q1 2026? Investors may worry that the company is investing – for example, in collaborations with other gaming studios. This could reduce its profits and negatively affect the dividend, which is already expected to be very low this year (1 PLN per share).
Rumors about a mythical DLC for “The Witcher 3” add to the gloom. The company has not confirmed working on such a project, but for some reason – mainly rumors spread by leakers – market bulls believe an add‑on is being developed. More precisely: they believed. Recent reports from the Warsaw studio Fool’s Theory suggest it may end up being just a rumor.
Where does this sudden pessimism come from? As we noted on FXMAG, a new job posting indicates the company is looking for a graphic artist to work on vegetation for a mysterious “grow” project. The problem is that experience with the Unreal Engine 5 engine, used for “The Witcher 4”, is required.
Other requirements for the new employee suggest it’s more than a DLC. The posting calls for at least three years of industry experience, proficiency in Adobe Photoshop, Substance Designer, and knowledge of Nanite and Lumen in UE5. This indicates Fool’s Theory is building a new, technologically advanced world. Another key detail: the new expert will collaborate with the artistic director of Redów.
We wrote more about this in the article: CD Projekt shares dive! New project from CDR and Fool’s Theory confirmed. Why is CDR falling?
Some investors may have taken this to mean the DLC rumors are dead (though that may not be the case).
The bulls’ behavior on CD Projekt’s floor is very important for the broader market. As Kamil Szczepański, XTB analyst, said in his last interview with FXMAG, “sector leaders can often drag along smaller entities, especially in relatively small and dynamic markets like the Warsaw Stock Exchange.” He was talking about potential gains.
The expert also noted that “improved sentiment toward a given market usually lifts the valuations of most companies, not just a few.”
Increases in the chart for the creators of the “grow” Witcher could help the heavily overvalued Big Cheese Studio. The company has had an underwhelming launch of the game “Cooking Simulator 2: Better Together.” It’s a continuation of the top “single.” The problem is that the “second” was heavily criticized on launch day, leading to a price drop.
Now, however, we see a rebound on the chart. Yes, during Monday’s session, when CD Projekt fell, Big Cheese shares rose, which could signal a broader positive correction. Why? The market had to recognize that the shares were now price‑attractive. Additionally, the company is making fixes to its not‑so‑successful game, which could boost its popularity. Right after its launch it indicated that the “single” of the popular kitchen simulator also initially had errors.
Read also: CD Projekt shares stir the gaming market? Expert: “Sector leaders can often drag along smaller entities.”
See also: CD Projekt shares before the breakthrough? The Warsaw Stock Exchange awaits a Witcher 3 DLC. Expert points to possible dates.
Big Cheese Studio shares gain
The price of CD Projekt shares fell to 264.2 PLN by the end of Monday’s session, a correction of 4.14%.
Chart. CD Projekt share price
Source: TradingView.
Meanwhile, the price per share of Big Cheese Studio was 5.38 PLN at the same time, meaning the price rose by 3.46% during the session.
Chart. Big Cheese Studio share price
Source: TradingView.
Read also: CD Projekt shares accelerate the bull market? Investors await a Witcher 3 DLC. We know possible dates!
See also: CD Projekt surprises! “The company faces the best quarter of the year.”
