Take-Two's Strong Performance Drives the Stock Higher
The past year has been one of uncertainty for investors in Take-Two Interactive Software (NASDAQ: TTWO). The video game purveyor fell victim to the same fears that hit most of the industry regarding the growing impact of free-to-play games like Epic Games' Fortnite. After topping all-time highs last September, the stock began a big downhill run, losing more than one-third of its value by February of this year.
Since then, however, concerns have abated and Take-Two has come roaring back, gaining more than 36% as of Monday's close, which was just before the company's fiscal first-quarter earnings report. Investors liked what they saw, bidding up the shares as much as 11% on Tuesday, though the stock ended the day up about 8%.
Let's see what has investors so excited, and what it means for the future.
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