Remedy Shares Soar on Alan Wake 2's Critical Success

Remedy Entertainment's stock has seen a notable surge following the release of Alan Wake 2, with shareholders responding positively to the game's launch. The Finnish studio witnessed a substantial increase in its stock value starting on October 26. It reached a peak of €29.4 per share, representing a 20% jump from the previous day and an 8.8% increase from the previous closing price of €27.

Although the stock price has slightly dropped to €28.1 per share at the time of writing, it still marks the highest level since May 27, 2022, when Remedy shares were trading at €30.2.

In its financial report for the six months ending on June 30, Remedy referred to Alan Wake 2 as its "largest game project to-date." The game was released on October 27 on the Epic Games Store, PlayStation 5, and Xbox Series X|S.

Alan Wake 2 has garnered positive reviews from the press, with an average Metascore ranging from 88 (PS5) to 92 (PC). It has been described as an impressive survival horror/thriller title, drawing comparisons to the remakes of Resident Evil and even classic titles like Silent Hill 2.

It's worth noting that the game was fully funded by Epic Games, and Remedy is entitled to 50% of its net revenue once Epic recoups its development and marketing expenses.

The original Alan Wake sold over 3 million copies, with total sales surpassing 4.5 million units, including DLCs. However, the remastered version of the game, released in October 2021, has yet to generate royalties, according to Remedy's H1 report.

Currently, Remedy is actively engaged in the development of four games, including Control 2, a remake of Max Payne 1-2, and projects codenamed Condor (a 4-player PvE title set in the Control universe) and Vanguard (a live service PvE multiplayer shooter, with its mobile version funded and published by Tencent).

This diversified approach aligns with Remedy's business strategy to maintain at least three expanding brands with long-term potential in its portfolio. As part of this strategy, the company aims to secure funding from partners while also pursuing self-publishing opportunities for its future projects.