Shares of CD Projekt slid 4.7% to 245.1 Polish zloty on Tuesday, marking the largest decline in the WIG20 index after the Warsaw-listed company confirmed The Witcher 4 would launch in 2028 rather than 2027. The move followed remarks by Co-CEO Michał Nowakowski, who cited the project’s scale as the company’s most ambitious to date, with over 500 employees already assigned to development.
The announcement came via a social media video, effectively removing a widely anticipated 2027 release window that had been factored into investor expectations. Nowakowski described the game as the "grandest, boldest, and most ambitious" project in CD Projekt’s history, underscoring the extended timeline required for development. The company also confirmed it would not unveil new material related to The Witcher 4 at Gamescom 2026, despite previously scheduled presentations for the expansion Songs of the Past for The Witcher 3.
CD Projekt is scheduled to release its next earnings report on September 2, 2026. The stock’s decline was isolated to the company, as broader Polish equities and U.S. benchmarks such as the S&P 500 and Nasdaq traded higher, indicating the drop was driven by company-specific factors rather than macroeconomic conditions.
