Investors witnessed a sharp decline in Take-Two Interactive’s stock during premarket trading on Tuesday. The trigger? The unveiling of the first “Grand Theft Auto VI” trailer, announcing a postponed release to 2025.
At 6 a.m. Eastern Time, shares in the gaming giant plummeted by 6%, posing a potential threat to wipe out approximately $1.6 billion in market capitalization as the markets opened.
This downturn followed the late Monday release of a GTA VI trailer on Rockstar Games’ YouTube channel, a shift from the initially planned Tuesday launch. The change was prompted by a leak on X, formerly Twitter.
The trailer’s concluding moments disclosed the disheartening news of the game’s arrival in 2025, dealing a blow to both fervent fans and Take-Two shareholders.
“Grand Theft Auto V,” the predecessor, stands as one of the highest-selling video games globally, boasting around 190 million copies shipped and generating roughly $8 billion for Take-Two. However, with GTA VI slated for 2025, its impact on the publisher’s earnings next year appears negligible.
Despite Tuesday’s setback, Deutsche Bank analysts, in a research note, upheld a “buy” rating for the stock. Notably, the trailer’s pivotal revelation was the “coming 2025” launch window.
Rockstar’s concise 90-second video also confirmed the game’s setting in Vice City, the Miami counterpart in the Grand Theft Auto universe. Additionally, it disclosed the inclusion of both a male and female protagonist, aligning with prior reports from Bloomberg News’ Jason Schreier.
Before Tuesday’s decline, Take-Two shares had enjoyed a 51% year-to-date surge, buoyed by the tech stock-friendly environment and ongoing speculation surrounding GTA VI’s release.
