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
- 4 Years Until The Next Recession? Not Likely! | ZeroHedge
- The "European Close" Trade Goes For 5 In A Row | ZeroHedge
- Bank of Japan Refrains From Deepening Stimulus | Financial Sense
- GOING FULL ‘HUGH HENDRY’ INTO SEPTEMBER | iBankCoin.com
- Chinese Developers "Destocking" Desperation: Bikini-Clad Model Car Washes, iPhones, & Alibaba Discounts | ZeroHedge
- USA Is Number 1 Again... | ZeroHedge
- Pakistan Faces (Another) Military Coup As PM Charged With Murder | ZeroHedge
The most relevant financial news and articles from the Internets
- Tiffany's Is Rallying (TIF) | Business Insider
- Founders Share 15 Pieces Of Advice For First-Time Startup CEOs | Business Insider
- Here Is How Much More College Football Coaches Are Paid Compared To Other Sports | Business Insider
- Man Facing Years In Jail Cleared After Dash Cam Video Shows Appalling Police Behavior | Business Insider
- Rams Coach Blasts ESPN Over Report On Michael Sam's Showering Habits | Business Insider
- Here's Where We Think The World's Nukes Are Stored — And What It Says... | Business Insider
- Here Is What Coffee Actually Does To Your Brain | Business Insider