Take-Two Interactive (TTWO) was one of the worst-performing gaming stocks of 2022, we noted on January 2. All after falling from a high of $178.92 to $104.13.
However, it appears the stock may be bottoming out, as the company bets big on game demand in coming years, as we also noted. Analysts at Stifel agreed, calling TTWO a top pick for 2023. We also noted that another big reason to stay positive on TTWO is Grand Theft Auto.
At the time, TTWO traded at $104.13. Today, it’s up to $140.16 and running.
All thanks to the news it could see a massive increase in sales in 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.