GamePolitics has run a number of stories over the past 15 months tracking the steady decline of Take-Two's stock price in the wake of the Hot Coffee. TTWO had a pre-scandal near 28, but has been as low as 9 in recent times.
Business site MarketWatch, however, reports that TTWO is rebounding, despite new concerns about ongoing investigations by the SEC and the Manhattan District Attorney's office. There are also a number of shareholder suits pending as well as the controversy surrounding the October 17th release of Bully
With the stock price now in the mid-teens, MarketWatch cites the strength of the Grand Theft Auto franchise as a factor in TTWO's rally.
"We view it as a company that has had some problems. But, (Take-Two) has been disproportionately punished," said Emmanuel Ferreira of the Oppenheimer Quest Opportunity Value Fund. Ferreira told MarketWatch Take-Two has no debt, possesses a talented development team and has high liquidity.
Comments
It's be the ultimate sorta "HA HA" in jack thompson and all the other critcs faces if that happened.
BTW, Dennis, about the school shooting in colarado, any word from that, i have a sneak suspecion someone witll play the "Game card" on it shortly.
Anyways, it's good to know TTWO is on the re-bound, I think it will rise even higher when Bully sells well and leaves people aghast at the non-violence of it all. Also, I bet they used the flower gathering mechanic I predicted!
Take-Two's stock is slowly coming back, so when Bully comes out and is successful, the stock will continue to go up.
My FAVORITE line of the whole bit.
Yes, it's true.
By the media. By organizations. By individuals. Even by the government.
There are a number of companies who received those NASDAQ notices. Including EA. But who gets the brunt? Take Two.
As rediculous as the NM Posey case is, Take Two is named because of GTA. Yet, as others have pointed out, another video game was mentioned, but the publisher/maker of that game was NOT included in the alawsuit.
There are a large number of companies who make a variety of violent video games. But who gets mentioned every single time there is a hearing in a government commitee? Take Two or one of its subsidiaries.
Sometimes, I think there is a deeper hidden agenda other than the "violent video games are bad" when it comes to Take Two. Almost like they "dissed" someone and now that person, organization, or the government is out to "get them" specifically, but not for the publicized reasons. I definitely believe that of the Tyndall House/Left Behind issue. And it wouldn't surprise me if it were the same with Take Two.
nightwng2000
NW2K Software
"It’s be the ultimate sorta “HA HA” in jack thompson and all the other critcs faces if that happened."
Oh you just know he'll see that as merely a challenge. Give him a few days, he'll be lurking round schools just waiting for someone to do anything that the game does...blissfully ignoring how often that stuff is done in school anyway.
Unless Jack & Friends are able to defeat the Bill of Rights, GTA will be around long after we are gone...and that's a good thing.
I'm pretty happy right now.
Shame I didn't in the end, I suppose its still not too late to have a go.
Unlikely, that Colorado gunman was 30-50 yrs old. Unless the plan is to blame Pac-man.
My thoughts and feelings go out to the parents of that poor girl that bastard shot. Death was too good for him.
And ideas like those are one of the things hurting the game industry very much. It seems like people making the money decisions for games really have to think about the law of diminishing returns a little more.
That's not really the case with the Grand Theft Auto series, though. Three games (plus two expansion packs, I guess you'd call the "____ City Stories" games) in six years is not a bad rate to be clipping them out.
Unless by "law of diminishing returns" joystickgenie was meanign that the variable inputs are constantly going up witht he new gen due to the higher cost to make games, and that in the next gen the marginal return on investment would go down, even assuming that the sales numbers do not go up to offset that (ie if the number of game sales increases less that hte profit per game decreases due to runaway dev costs, the marginal profit will go down per game compared to the previous ones)
As for the stock, I can't help but wonder if the sudden rise is due to the fact that GTA will not be exclusive to the PS3. If that IS the case, then you can expect the stock to rise a lot as the development cycle progresses, and get a jump after Bully is released and people realise how well it is selling. Have no doubt, Bully will be a big big seller. Hell, I'm going to buy a copy just to spite JT.