Investors responded swiftly as Take-Two Interactive Software, the parent company of Rockstar Games and publisher of the renowned Grand Theft Auto franchise, unveiled a trailer for the highly-anticipated sixth installment of the series, alongside a release window announcement.
This revelation caused Take-Two’s stock to plummet over 5% during premarket trading on Tuesday. Grand Theft Auto remains one of the largest gaming franchises, with details about the upcoming installment significantly impacting Wall Street’s perception of Take-Two’s stock performance.
It is worth noting that Grand Theft Auto V currently holds the record as the second-best-selling video game of all time, having sold more than 190 million copies worldwide. Consequently, expectations are high for its successor to generate substantial revenue for Take-Two’s Rockstar Games.
The decline in Take-Two’s stock price is likely due to traders’ disappointment with the 2025 release date, as some had speculated it might arrive in 2024. Additionally, concerns may have arisen from the leaked trailer, raising doubts about its reception among gamers.