Take-Two Shares Thrive on Grand Theft Auto V 10th Anniversary & Anticipation for Sequel
Shares of Take-Two Interactive Software Inc (TTWO), the publisher of Grand Theft Auto V (GTA V), have been in hot demand this week, hitting an all-time high. The stock rose more than 8% on Monday, in celebration of the 10-year anniversary of the incredibly popular game, which was originally released back in September 2013.
GTA V had already sold more than 125 million copies as of April of this year, making it one of the most successful video games of all time. The success of the game has been further buoyed by the use of GTA Online, an online version of the game. This was originally released as a “mod” in late 2013 but has since evolved into its own stand-alone game, introducing new content and gameplay features adding to the game’s longevity.
Investors are “buying into the hype” surrounding GTA VI, which is currently in development and planned for release in the near future. The yet-to-be-released game has been speculated for since 2013, but only recently has it become clearer that the game is in production.
Take-Two’s share prices have enjoyed a steep incline in recent weeks, 10% since the start of August, on the back of positive sentiment surrounding the upcoming game. Analysts are predicting that the new version could be a significant sales driver, and could even exceed the success of GTA V.
While GTA V has been an undeniable success for Take-Two, the company is also looking to diversify beyond its flagship title with the launch of other games, such as Red Dead Redemption 2 and NBA 2K21. Both of these games have been extremely successful in their own right, and have the potential to carry the company going forward.
For the moment, however, all eyes are on GTA VI, as investors wait for more news regarding the yet-to-be-released game. With shares hitting an all-time high, it is clear that investors are banking on a successful launch.