What Happened?
Shares of video game publisher Take Two (NASDAQ: TTWO) fell 9.2% in the afternoon session after the company announced that the release of its highly anticipated game, “Grand Theft Auto VI,” was delayed again.
The video game developer pushed the launch date to November 19, 2026, a setback of nearly six months from its previous May 2026 target. This news overshadowed what was an otherwise strong quarterly financial report. The company posted higher-than-expected results for its fiscal second quarter and raised its projections for fiscal 2026. However, the delay for a flagship project like Grand Theft Auto VI introduced uncertainty regarding the timing of future revenue. The postponement disappointed investors, and the negative sentiment surrounding the delay outweighed the strong underlying financial performance.
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What Is The Market Telling Us
Take-Two’s shares are not very volatile and have only had 4 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 9 months ago when the stock gained 15.3% on the news that the company reported strong fourth-quarter results and provided quarterly revenue guidance and full-year EPS outlook, which beat analysts' expectations. The company also confirmed its much-anticipated GTA VI title will come out in the fall of this year. The pipeline for the year is also stacked with popular titles, including Civilization VII, Mafia, and Borderlands 4. Management was upbeat about the outlook, with expectations for gradual improvements in net bookings in fiscal 2026 and 2027 as it rolls out its hit titles. Quarterly performance was mixed. Strength in NBA 2K helped counter softness in several mobile franchises, yet weak mobile sales weighed on overall bookings and revenue. The company is counting on Zynga to reverse these trends. Overall, this was a solid quarter.
Take-Two is up 25.2% since the beginning of the year, but at $229.13 per share, it is still trading 12.6% below its 52-week high of $262.29 from October 2025. Investors who bought $1,000 worth of Take-Two’s shares 5 years ago would now be looking at an investment worth $1,432.
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