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Markets · Investing · Business
Finance
Is Now a Good Time to Buy Take-Two Stock?
The stock is down despite what the CEO called "exceptional" preorders for "Grand Theft Auto VI."
Shares of Take-Two Interactive(NASDAQ: TTWO) are down 21% over the past year, as of Oct. 7. That dip could be a timely opportunity to buy ahead of the highly anticipated release of Grand Theft Auto VI in November, but there's also a good reason to wait.
Take-Two posted nearly $1.4 billion in net bookings (an adjusted measure of revenue) for the fiscal first quarter ending in June, down 3% year over year, but above company guidance that called for $1.37 billion at the high end. NBA 2K and the existing Grand Theft Auto catalog, among other titles, were the biggest contributors to bookings in the quarter.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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