Despite the long-standing hype and high viewership drawn by the Grand Theft Auto 6 (GTA6) extended look on August 27, Take-Two Interactive (NASDAQ: TTWO) stock investors have yet to see much gain from the video game’s popularity.
Specifically, TTWO shares met the gameplay reveal at about $233 and rallied to $235.39 one day later, but have collapsed 7% since and closed at $216.68 on Tuesday, September 1. The Wednesday pre-market brought little change, and the equity slid another 0.31% overnight to its press time price of $216.
Given the Take-Two Interactive stock price performance, investors who wanted to take advantage of the gaming publisher’s marketing move and put $1,000 in TTWO shares ahead of the reveal would have lost $72.96.
Even worse, those encouraged by the initial upsurge, thus purchasing at $235.39 on August 28, would have seen their position diminish to $917.63 by the morning of September 2, thus losing $82.37.
Is Take-Two Interactive stock a good investment ahead of GTA 6 launch?
Meanwhile, the benefits of investing in Take-Two Interactive shares appear uncertain despite the success of GTA 6 appearing, by press time, guaranteed.
Indeed, reports from September 1 indicate that the extended look at the upcoming installment of the popular Grand Theft Auto franchise exceeded 31 million within just four days.
Additionally, despite the initial reaction being generally positive but also featuring occasional signs of skepticism or disappointment, the online discourse moved more firmly into optimism and satisfaction in the following days.
The financial side also appears positive, with pre-orders allegedly exceeding 4 million by late August despite GTA 6 being scheduled for release on November 19.
Considering that, over the years, ordering ahead of the launch, and especially before the review embargoes are lifted became controversial due to bad practices rampant in the industry, the number of buyers showcases gamers’ confidence in the product.
Still, TTWO stock has been performing rather poorly in the last year and is 10% in the red on the 12-month chart, raising the possibility that – despite how the equity performed in the wake of previous GTA releases – investors banking on the newest installment might find themselves disappointed.
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