Why Take-Two Software Stock Beat the Market Today
Uncharacteristically for a tech stock of late, Take-Two Interactive Software (NASDAQ: TTWO) eked out a stock market gain on Wednesday. The company's shares inched up nearly 0.3% higher, a good showing when matched against the nearly 1% slide of the S&P 500 index on the day.
Take-Two's news for the day was that its Private Division publishing arm is expanding. Marking the unit's fifth anniversary, it announced the launch of the Private Division Development Fund. This is a facility aimed at supporting the work of small developers that collaborate with the publisher.
"We never like to say 'no' to an incredible game concept due to the size of the project, and the Private Division Development Fund enables us to identify and support some of the best creative ideas our industry has to offer," Private Division's head of business development Blake Rochkind was quoted as saying.
Source Fool.com
