On April 10, we noted, “Investors may want to keep an eye on Take-Two Interactive (TTWO). Not only has the stock been trending higher, the announcement of a Grand Theft Auto follow up game has a lot of investors excited. While there’s no launch date for the game just yet, analysts at Moffett Nathanson believes a major announcement is just around the corner.”
At the time, TTWO traded at $120.06. Today, it’s up to $140.16 and running.
All thanks to news it could see a massive increase in sales its upcoming 2025 fiscal year, which starts April 2024. In fact, according to a company press release:
“We believe that we will enter our next phase of growth in Fiscal 2025, as we plan to deliver several groundbreaking titles that we anticipate will set new standards of quality and success and enable us to deliver over $8 billion in Net Bookings and over $1 billion in Adjusted Unrestricted Operating Cash Flow. We expect to sustain this momentum with additional growth in operating performance in Fiscal 2026.”
In short, TTWO is expecting something massive in 2024, which leads us to believe that refers to a new installment of the much-anticipated Grand Theft Auto.