Take-Two Interactive (TTWO) -) shares slumped lower Tuesday after the videogame maker arranged the early release of a trailer for its highly anticipated Grand Theft Auto VI title.
The new release, which comes nearly a decade after the previous title in the popular videogame franchise, will be available in 2025, Take-Two said, and will mark the 25th anniversary of its collaboration with Rockstar Games, the division that created the original title.
The new Grand Theft Auto trailer, however, had been scheduled for debut later this morning. Indications from Rockstar suggested portions of the trailer were leaked online, compelling the company to bring forward its release time.
Last year, a hacker known as teapotuberhacker was able to gain access to several videos of gameplay from the new Grand Theft Auto VI release and and posted them to a GTA-focused message board.
Our trailer has leaked so please watch the real thing on YouTube: https://t.co/T0QOBDHwBe
— Rockstar Games (@RockstarGames) December 4, 2023
“'Grand Theft Auto VI' continues our efforts to push the limits of what’s possible in highly immersive, story-driven open-world experiences,” said Rockstar Games Founder Sam Houser. “We’re thrilled to be able to share this new vision with players everywhere.”
Take-Two shares were marked 0.6% lower in late Tuesday trading to change hands at $156.66 each, a move that would still leave the stock more than 50% higher for the year.
Benchmark analyst lauds GTA potential
The Grand Theft Auto VI trailer was last seen to have around 9.9 million views on Google-owned YouTube and could provide a compelling boost to both the gamemaker's current offerings and the 2025 release.
"The upcoming release of the new Grand Theft Auto game is expected to generate substantial enthusiasm, acting as a key driver for current Rockstar Games titles and live services, including 'Grand Theft Auto 5', 'Grand Theft Auto Online', and the 'Red Dead Redemption' franchise,'" said Benchmark analyst Mike Hickey.
"The anticipated release of 'Grand Theft Auto Next' is likely to boost TTWO's growth significantly in fiscal years 2025 and 2026," he added.
"We believe 'Grand Theft Auto Online Next' could be a major valuation catalyst, potentially adding an incremental $1 billion in annual live service revenue, while continuing the success of the original 'Grand Theft Auto Online,' which has maintained player engagement for a decade."
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