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CD Projekt Shares Fall After ‘Witcher IV’ Release Delayed Beyond 2026

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Shares of CD Projekt (CDR.WA) saw a significant decline of nearly 13% in early trading on Wednesday, following the company’s announcement that the highly anticipated “Witcher IV” would not be released before 2027. The delay has sparked concerns about an even longer wait for the next installment in the beloved Witcher series.

‘Witcher IV’ Release Date Pushed Beyond 2026

CD Projekt confirmed that “Witcher IV,” which is being developed under the code name Polaris, will be the first entry in a new trilogy expanding the Witcher universe. The franchise, which has sold over 75 million copies globally, is known for its medieval fantasy world and critical acclaim. However, the game developer has refrained from giving an exact release date, instead suggesting that the game would premiere after 2026 to provide more clarity for investors.

Analysts React to the Delay

The news that the release of “Witcher IV” will not occur before 2027 was not entirely unexpected, according to analysts. Grzegorz Balcerski from Trigon noted that his previous forecast already anticipated the game’s premiere in the second quarter of 2027. However, the extended timeline has raised concerns about potential further delays, which are common in the video game industry. Some analysts expressed disappointment at the lack of commitment to a firm 2027 release, which could signal a longer delay.

Impact on Stock Performance

As a result of the news, CD Projekt’s stock dropped sharply by 11% as of 0940 GMT, marking its largest one-day loss in two years. The company was the worst performer on Europe’s benchmark STOXX 600 index on the day of the announcement. Despite this, the stock had been up 20% since the beginning of 2025, indicating strong market performance until the release delay news.

Development Timeline and Expectations

In November, CD Projekt had announced that “Witcher IV” had entered full-scale production, and CEO Michal Nowakowski had indicated that it typically takes five to six years to develop a major AAA game. The company had initially revealed the development of the new Witcher saga in March 2022, with high hopes for a new chapter in the series.

Take-Two Projects Weak Q4 Bookings, Confirms Fall Launch for “GTA VI”

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Take-Two Interactive Software (TTWO.O) projected lower-than-expected fourth-quarter bookings on Thursday, attributing the decline to reduced in-game spending on mobile titles amid ongoing economic uncertainties and high inflation. The company expects bookings to fall between $1.48 billion and $1.58 billion, slightly under analysts’ average estimate of $1.54 billion, according to LSEG data.

The broader videogame industry has faced headwinds over the past two years, including layoffs, studio closures, and canceled projects, fueled by weak sales and higher borrowing costs. Take-Two’s mobile games like “Empires & Puzzles” performed below company expectations, reflecting a trend of consumers cutting back on mobile game spending.

Despite the short-term challenges, Take-Two’s stock rose over 6% in extended trading after the company confirmed that the highly anticipated “Grand Theft Auto VI” remains on track for a fall 2025 launch. The long-running action-adventure franchise is known for its immersive sandbox gameplay and dynamic characters, with each new installment being a major event in the gaming industry.

Wedbush Securities analyst Michael Pachter noted that confirmation of the launch date eased investor concerns about potential delays. Take-Two also reaffirmed expectations for higher net bookings in fiscal 2026 and 2027, driven by “GTA VI” and other major releases.

Beyond “GTA VI,” Take-Two is set to release several high-profile titles this year, including “Borderlands 4” and “Mafia: The Old Country.”

While the company’s third-quarter bookings of $1.37 billion fell short of the $1.39 billion consensus, Take-Two posted adjusted earnings of 72 cents per share, beating analysts’ expectations of 57 cents. The company also noted that Zynga, which it acquired in 2022, has nearly completed its integration into the Take-Two ecosystem and should contribute more significantly to profitability moving forward.

Ubisoft Delays ‘Assassin’s Creed Shadows’ Release Again

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Ubisoft has announced a further delay in the release of Assassin’s Creed Shadows, pushing the launch from February 14 to March 20. This marks the second delay for the highly anticipated game in the Assassin’s Creed series, with the original release date being set for November before being postponed in September.

The additional month will allow the development team more time to incorporate player feedback from the previous months, aiming to refine the game further before its official release. Ubisoft has highlighted that the feedback from the Assassin’s Creed community has been increasingly positive, and the extended time will help to ensure the best possible launch conditions.

This delay adds to Ubisoft’s recent struggles, which include a disappointing reception for Star Wars Outlaws, released in August 2024, that did not meet sales expectations. As a result, Ubisoft’s shares have halved in value over the past year.

Additionally, Ubisoft revealed plans for significant restructuring after a strategic review, including appointing advisers to explore options for improving stakeholder value. The company aims to reduce its fixed cost base by more than €200 million by FY2025-26 and take a more selective approach to investments.

For the third quarter, Ubisoft forecasts net bookings around €300 million, a significant drop from earlier projections due to weak holiday sales and the discontinuation of XDefiant.