GTA V Delayed, TTWO falls 7%
Take-Two Interactive (TTWO) shares fell 7% today after announcing that Grand Theft Auto V is delayed until Sept 17th 2013. The news could have been worse and don't forget TTWO still has BioShock Infinite ready to release on March 26th.
The sell-off is typical for Take-Two and not a surprise reaction for traders. Keep in mind Take-Two caries a 24% short interest and volatile swings are typical events. Take-Two posted the following consolation notice on their website today:
We know this is about four months later than originally planned and we know that this short delay will come as a disappointment to many of you, but, trust us, it will be worth the extra time. GTAV is a massively ambitious and complex game and it simply needs a little more polish to be of the standard we and, more importantly, you require.
It's a big whatever but possibly a chance for those waiting on the sideline to enter the stock before the expected run up (read Take-Two: A Classic Pullback). To wet your appetite for BioShock Infinite checkout their e-book prequel, BioShock Infinite: Mind in Revolt available on Amazon. Mind in Revolt was written by Joe Fielder with creative director Ken Levine. The e-book will give gamers insight into the sky-city of Columbia before the upcoming game begins.
Bottom line: Take-Two earnings are next week, prepare for another 'do or die' trading day. However with a new BioShock and GTA release in 2013 TTWO shares could finally fight back.
TTWO Chart for today & TTWO 6 Month Chart:
Best of the Blogs
Scanning and identifying the best blog entries every hour
- A Big Tailwind for the Stock Market Has Now Dissipated | Financial Sense
- Is This The Top? Champagne Shipments To US Reach 2007 Record Highs | ZeroHedge
- Trump On What Happens Next: "Obamacare Will Explode" | ZeroHedge
- "Policy Error" Is Back: Deutsche Warns Two Things Can Derail The Market's "Most Crowded Trades" | ZeroHedge
- How The Surveillance Program Works, And Who Can Order It: Former Intel Chair Explains | ZeroHedge
- Is Bank Lending a Concern? | Financial Sense
- The Useful And The Useless | ZeroHedge
The most relevant financial news and articles from the Internets
- 4 of the most comfortable pairs of headphones you can buy | Business Insider
- People are freaking out that United told women they couldn't... | Business Insider
- 'Seems like it’s going to be about his corporate cronies':... | Business Insider
- 2 months into his presidency, Trump continues to make some of the worst men's style... | Business Insider
- 'I'm not going to deny that': Congressman responds to... | Business Insider
- Trump will look to recover from his worst week yet as president | Business Insider
- Too many people make the same mistake when they start a new job, and it makes them... | Business Insider