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Why Is Take-Two Interactive (TTWO) Stock Up 8% Today?

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  • Take-Two Interactive (TTWO) stock is rising as Rockstar Games makes a major announcement.
  • The video game developer will show off the first trailer of the next Grand Theft Auto game in December.
  • This comes as the company plans to celebrate its 25th anniversary.
TTWO Stock - Why Is Take-Two Interactive (TTWO) Stock Up 8% Today?

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Take-Two Interactive (NASDAQ:TTWO) stock is getting a boost on Wednesday after video game developer Rockstar Games revealed plans for its 25th anniversary next month.

According to a series of posts on X, the social media platform formerly known as Twitter, the company is going to show off a new trailer for the next Grand Theft Auto game to celebrate. Take-Two Interactive is the parent company of Rockstar Games, which explains why shares of TTWO stock are up with today’s announcement.

Sam Houser, president and cofounder of Rockstar Games, is the man behind today’s posts. He notes that gamers will see the first trailer for the next Grand Theft Auto game in early December.

While Houser doesn’t call the game Grand Theft Auto VI, that’s what many fans of the series are hoping for. Insider leaks have also claimed that this will be the next game in the series and the one shown off in the trailer.

How This Affects TTWO Stock

A new Grand Theft Auto game is likely to be a boon to TTWO stock. This is a major name for the series, and there hasn’t been a new mainline entry to the franchise since Grand Theft Auto V came out in 2013.

To give an idea of how big of a release Grand Theft Auto VI would be, Grand Theft Auto V has sold 185 million copies since its release.

TTWO stock is up 8.1% as of Wednesday morning, with some 667,000 units traded. The company’s daily average trading volume is around 1.3 million shares.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/11/why-is-take-two-interactive-ttwo-stock-up-8-today/.

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