Take-Two Stock Slides Over Concerns About a New GTA
Wednesday, 9 June, 2010 at 20:11 PST | Jon | Print News
Yesterday's earnings announcement from Take-Two may have been good news for the company, but it looks like they've already lost any reason to celebrate. Less than a day after the announcement, the company saw it's stocks slide more than 7% over the course of the day. This news, however, may actually help us get a Grand Theft Auto V sooner than many of us expected. The downturn came as a result of increasing uncertainty from investors who are looking for news about the publisher's biggest brand.
"There is a hesitation to own the stock without more information about GTA," said Janco Partners analyst Mike Hickey. "If we don't hear anything in the next few months, then doubts start to creep in."The stock will surely rebound in the coming days, but you can bet that this news means Rockstar will face more demands to release some details on a new GTA game. It's one thing for the fans to be clamoring for a new release, but you've really got to take it seriously when your publisher starts to feel the pressure and turns their sights to you.
Click here for the full story from Reuters
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