Louis Navellier’s #1 Stock for 2021

On January 19 at 4 p.m. ET, the man who recommended Google before anyone else will reveal his #1 stock pick for 2021 — for FREE — ticker symbol and all — in a special presentation.

Tue, January 19 at 4:00PM ET
 
 
 
 

Why TTWO Stock Is Tumbling Today: ‘Red Dead Redemption 2’ Has Big Flaw

Take-Two Interactive Software (NASDAQ:TTWO) began the week on a difficult note as TTWO stock fell more than 5% due to an issue with the video game studio’s current leading title Red Dead Redemption 2.

TTWO StockThe online mode of the game has a major problem with its virtual economy, according to a Forbes story released over the weekend. The story noted that the game’s online economy offers a “painfully slow” earn rate, meaning that the amount of time it takes the game’s characters to earn virtual cash is too large compared to how much virtual currency they actually bring in.

This issue could be quite costly to Take-Two Interactive Software, costing the company a fortune in revenue. The impact of the problem has already proven to affect the company’s value as TTWO stock dropped as much as 8% early Monday morning.

However, Red Dead Online is still only in beta test mode, which means the studio has plenty of time to fix the issue, which is slated to bring in about $100 million next year. A large chunk of the game’s revenue comes from selling in-game items online, which is an idea that other Take-Two titles have used to make a fortune.

TTWO stock fell more than 5.6% on Monday by day’s end following the news, while shares surged a fraction of a percentage after the bell.


Article printed from InvestorPlace Media, https://investorplace.com/2018/12/ttwo-stock-take-two-interactive/.

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