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Reiteration of the GTA 6 release date and a new report detailing a staggering sales figures prediction is causing huge shifts on Take-Two’s share price.
Take-Two Interactive’s share price at market close on Tuesday was up over 6%. This has raised a bunch of eyebrows over potential GTA 6 news considering the silence from Rockstar and how it shut up so much in a short space of time. However, there are different reasons for the price increase.
As reported by TheFly via StockTwits, data analysis suggests the game could sell over 45 million copies at launch. This is an absolutely incredible amount.
For comparison, GTA V sold over 11 million copies day one back in 2013. There has been a number of reports over the past couple of years claiming that Grand Theft Auto 6 will achieve around 20 to 25 million copies on its launch. Personally, I’ve always thought that this was underestimating what GTA VI will achieve. This latest report does feel more in line with what will be reality.
Of course this report is music to investors ears. It led to a huge spike in Take-Two’s share price; the highest it has been since May back when there was a fantastic financial quarterly report put out. There was a huge drop afterwards as shareholders began divesting and reaping profits.
Analyst Piper Sandler also provided some guidance for shareholders. An “Overweight” rating for Take-Two and a cap of $280 has been maintained. This is around 20% more than it’s current share price.
Some investors have worries that Grand Theft Auto VI will have a negative impact on the company’s successful mobile business. Piper squashed that by explaining the consumers are very different. As we know, investors are not the smartest of people when it comes to things like this.
On top of that, Take-Two CEO Strauss Zelnick appeared in a viral TikTok over the weekend. Zelnick reiterated that GTA VI is coming out on November 19th. There is increasing confidence from shareholders that the game is going to be making that release date. We also reported earlier this week that an extremely reliable gaming insider also has heard that the game is still on target.
For more GTA VI news updates, stay tuned to RockstarINTEL.
