Take-Two Loses Billions In Market Value Since GTA 6 Leaks Began
Overview & Key Takeaways
GTA 6 is set for a big reveal on August 27 with an extended trailer coming to Netflix, but ahead of that, alleged gameplay footage is leaking everywhere.
The leaks began earlier this week, and Rockstar owner Take-Two's stock price has fallen this week as well. Take-Two has seen its total market cap lose billions, as the company's share price began the week around $245. Today, shares are trading around $236.
GTA 6 releases this November on PS5 and Xbox Series X|S.
The share price of a company can be affected by news, and the GTA 6 leaks have been substantial, generating numerous headlines and even jokes from the US government. Another factor that could be affecting Take-Two's share price includes its top boss Strauss Zelnick selling $10 million worth of shares recently.
Additionally, Take-Two's recent earnings report showed that the company lost more than $30 million the past three months, with net bookings falling, too.
Another new development for Take-Two's stock recently was the disclosure that the Ontario Teachers' Pension Plan bought nearly 150,000 shares of the company worth more than $37 million.
Take-Two's share price has bounced around a lot so far this year, and, as of today, it's down more than 6% year-to-date. Over the past year, Take-Two stock is up 3.3%. Anyone who has been a long-term shareholder has benefitted greatly, as Take-Two stock is up about 50% in the past five years. When GTA 5 came out in 2013, Take-Two's stock price was about $18. Today, it's above $235.
GTA 6 also suffered a leak in September 2022. At the time, Zelnick said it was "really frustrating and upsetting," but the leaks had no financial impact.
Set for release on November 19, GTA 6 is coming to PS5 and Xbox Series X|S. The developers at Rockstar were reportedly testing the game for Switch 2, but fans should not get their hopes up.
GTA 6 is set for a big reveal on August 27 with an extended trailer coming to Netflix, but ahead of that, alleged gameplay footage is leaking everywhere.
The leaks began earlier this week, and Rockstar owner Take-Two’s stock price has fallen this week as well. Take-Two has seen its total market cap lose billions, as the company’s share price began the week around $245. Today, shares are trading around $236.
GTA 6 releases this November on PS5 and Xbox Series X|S.
The share price of a company can be affected by news, and the GTA 6 leaks have been substantial, generating numerous headlines and even jokes from the US government. Another factor that could be affecting Take-Two’s share price includes its top boss Strauss Zelnick selling $10 million worth of shares recently.
Additionally, Take-Two’s recent earnings report showed that the company lost more than $30 million the past three months, with net bookings falling, too.
Another new development for Take-Two’s stock recently was the disclosure that the Ontario Teachers’ Pension Plan bought nearly 150,000 shares of the company worth more than $37 million.
Take-Two’s share price has bounced around a lot so far this year, and, as of today, it’s down more than 6% year-to-date. Over the past year, Take-Two stock is up 3.3%. Anyone who has been a long-term shareholder has benefitted greatly, as Take-Two stock is up about 50% in the past five years. When GTA 5 came out in 2013, Take-Two’s stock price was about $18. Today, it’s above $235.
GTA 6 also suffered a leak in September 2022. At the time, Zelnick said it was “really frustrating and upsetting,” but the leaks had no financial impact.
Set for release on November 19, GTA 6 is coming to PS5 and Xbox Series X|S. The developers at Rockstar were reportedly testing the game for Switch 2, but fans should not get their hopes up.
