Pearl Abyss shares plummeted nearly 30% on Thursday following the release of reviews for its highly anticipated open-world action role-playing game, Crimson Desert. The stock price drop, wiping approximately $13 off the value of a share and leaving it at around $30, is widely attributed to the game’s Metacritic score of 78, a figure investors reportedly expected to be higher.
The Metacritic score, based on 85 critic reviews as of Thursday afternoon, places Crimson Desert in the “generally favorable” category. While praise was widespread for the game’s visual fidelity, expansive environments, and ambitious scope, opinions diverged on whether these elements coalesced into a cohesive and enjoyable experience.
Forbes reviewer Paul Tassi awarded the game a 9.5 out of 10, describing its scale as “unprecedented” and stating he remained “never bored” after 100 hours of gameplay. Tassi acknowledged the story as the game’s weakest element, but noted it wasn’t intended to be a primary draw for players.
GamesRadar’s Joel Franey gave Crimson Desert a four-star review, characterizing it as “messy” but ultimately worthwhile due to “elements of genius and wonder.” However, other critics were less impressed. Shacknews’ Will Borger criticized the game’s “maximalist” approach, stating it only succeeded “half the time,” and expressing a strong dislike for the overall experience. “deny its ambition. I did not enjoy my time with it. It is a game that wastes your time,” Borger wrote.
The Seoul Economic Daily reported that the market had anticipated a Metascore in the mid-to-high 80s, and the lower-than-expected result significantly impacted investor confidence. Pearl Abyss invested seven years and 200 billion won (approximately $133 million) in the development of Crimson Desert.
Despite the initial stock reaction, analysts suggest Crimson Desert is poised for a strong launch on Steam. Rhys Elliott, head of market analysis at Alinea Analytics, indicated the game “is on track for a killer launch on Steam.”
The PC version of Crimson Desert launched on March 18, with releases on PlayStation 5 and Xbox consoles planned for a later date. IGN’s review, based on the PC version, awarded the game a 6/10, a score that is still subject to change.
Dr. Serkan Toto, CEO of Japan games industry consultancy firm Kantan Games, succinctly summarized the situation in a social media post: “Apparently not good enough for investors.”
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