Take-Two Interactive’s Stock Soars as Anticipation Builds for “Grand Theft Auto VI” Announcement
Shares of Take-Two Interactive Software (TTWO.O) surged by 9% on Wednesday following reports that the highly anticipated next instalment in its popular “Grand Theft Auto” video game series could be revealed as early as this week. According to Bloomberg News, the announcement of the new game is expected to be accompanied by a trailer next month, coinciding with the 25th anniversary of Rockstar Games, the Take-Two division responsible for “GTA”.
Analysts have long predicted that the release of “GTA VI” would result in a massive success, potentially generating billions of dollars in sales annually. The game’s predecessor, “GTA V”, has been incredibly profitable, accumulating approximately US$7.68 billion in sales since its launch in 2013.
Take-Two, set to report its earnings later in the day, did not immediately respond to requests for comment. The company had hinted at the possibility of a new instalment earlier this year, mentioning plans to launch several “groundbreaking titles” in 2024 and projecting a surge in net bookings, expecting to reach over US$8 billion next year.
The excitement surrounding “GTA VI” has been building for years, especially after a major leak last year revealed development footage of the game, showcasing elements such as robberies, gunplay, and open-world driving. The leak generated considerable buzz among the gaming community.
Investors have responded positively to the potential announcement, with Take-Two’s stock rising by almost a third this year, partly driven by the growing expectations of “GTA VI”‘s reveal. The company’s market value is on track to increase by nearly US$2 billion based on the premarket share price of US$148.6, demonstrating the high anticipation and confidence in the upcoming game’s success.
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