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.