Why Take-Two Interactive Stock Was Down Today
Take-Two Interactive (NASDAQ: TTWO) reported lower bookings than expected for the fiscal second quarter ending Sept. 30. The company also missed the bottom line, reporting an adjusted loss per share of $1.54 compared to expectations of a profit of $1.38 per share.
The stock was down more than 16% in pre-market trading before rallying Tuesday morning. However, as of 12:55 p.m. ET, the stock was still down 11.4%. Year to date, Take-Two stock is down 46%.
It seems an overdone sell-off since nothing has changed Take-Two's long-term opportunities. There are still several titles in the pipeline planned for release over the next few years. Plus, management said its integration of Zynga is making "excellent progress," and they are optimistic about the long-term growth potential in the video game industry.
Source Fool.com
