Why Take-Two Interactive Stock Is Sinking Today
Take-Two Interactive (NASDAQ: TTWO) stock is falling in Thursday's trading. The video company's share price was down 2.7% as of 12:50 p.m. ET amid the backdrop of a 0.1% gain for the S 500 index and a decline of 0.4% for the Nasdaq Composite index.
Take-Two is losing ground today after fellow gaming-industry player Electronic Arts (NASDAQ: EA) published preliminary results for the third quarter of its current fiscal year, which ended Dec. 31. EA also issued revised guidance for its full fiscal year. Wall Street isn't happy with the update, and it's having a spillover effect for Take-Two stock.
EA stock is seeing big sell-offs on the heels of its preliminary Q3 report and guidance revisions. As of 12:50 p.m. ET, the company's share price was down 16.7% in the daily session.
Source Fool.com
