2023-12-05 11:11:58 ET
The announcement of the release date of highly anticipated game Grand Theft Auto 6 has got the world into a frenzy. And online and social media the stock price of Two-Times seems to be coming along for the ride. But is the party over now?
Grand Theft Auto hype
The sixth instalment in the beloved ode to anarchy in Vice City was first shown to the world in a way which some might deem on brand: illegally leaked footage of the game under development, which went live in September 2023. Another leak of the game’s trailer followed in early December, only to be followed by the official trailer, which was then launched by GTA 6’s maker Rockstar Games hours later on December 4 th .
After this, the search term “ttwo stock” – the ticker for gaming company Take-Two Interactive Software Inc, who owns the Grand Theft Auto franchise – began trending as a Google search term. It peaked in popularity on November 30 th , peaking on December 1 st and December 5 th . This was accompanied by other breakout topics like “gta6”, “NASDAQ:TTWO: Topic”, “gta vi” and “Take-Two Interactive – Video game company”.
The TTWO stock price
Take-Two Interactive’s stock price is up over 15% in the past month. In fact, on November 8 th alone, its share price climbed by more than 6%, after the company announced the imminent Grand Theft Auto game, ahead of its leak.
In its latest financial results release, on November 8 th , the company said that it anticipated a mammoth year in revenue for next year, with a 2024 net bookings guidance of $5.45 to $5.55 billion. This partially offset lacklustre results otherwise, which included a 9% decrease in recurrent consumer spending and a 7% decrease in net revenue.
Talk of Grand Theft Auto 6 seems to have put paid to any pessimism for now, at least according to its popularity in search terms. But, with the official trailer already released, the game itself expected in 2025 only and not much more in the way of material news on the game expected for the next while, is the ride over?
What our analyst says
Invezz analyst Crispus Nyaga thinks that, rather than Two-Times’ stock price rising to higher heights, a pullback may actually be on the cards.
“TTWO has outperformed its peer group companies like Electronic Arts, Sea Limited, and Roblox this year. The GTA VI news is a good catalyst for the stock going forward but this launch is already priced in. I suspect that we could see a pull back in the near term as this hype dies. A lot can happen between now and the 2025 launch.”
Read more about the Take-Two stock price
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