Take-Two shares rebound

By Derek Sooman on January 31, 2006, 5:56 AM
A published report claiming that Take-Two Interactive Software Inc is in talks with several buyout firms over the past week has prompted shares in the company to rebound.

In afternoon trading, Take-Two shares climbed $1.11, or 7.6 percent, to $15.80 on the Nasdaq Stock Market.

The report comes after the stock fell 26 percent over four trading days last week.

The firm, who are behind the Grand Theft Auto series, has received sharp criticism over the "Hot Coffee" story, were it emerged that the latest version of GTA had a hidden sex game in it. The firm is currently engaged in legal battles over this. Seemingly, problems abound within the firm, who's board member Barbara Kaczynski apparently has just submitted her resignation, citing concerns about the company's management. Is the end for Take-Two approaching?

User Comments: 8

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asphix said:
I doubt Take 2 will be going anywhere anytime soon. If I had the money, I would invest in a good chunk of their stocks. Controversy sells.. and they are full of it. They are having a tough time right now.. but I believe they will come back.. maybe not as strong as before.. and not as quick as everyone would hope.. but they will.
Kaleid said:
They acquired Irrational Games not too long ago so they better stay alive so that "Bioshock" will be released. It's one of my most anticipated games atm.
buttus said:
Take it from one that burned severly when Hip Interactive died....keep a safe distance from this one.How many similar companies have been in trouble this past year alone? Hip Interactive, Dreamcatcher and now Take Two.Comnpanies like this do best when they remain private. As soon as they go public and stock offerings are made then the name of the game changes.Take two is a great company that has made great products. Unfortunately however in this industry it isn't what you've done, it's what you are going to do.We'll see who buys them. And yes Kaleid I'd agree...I too am looking forward to Bioshock.Especially if I win that last remaining 7800 card :D
Phantasm66 said:
Maybe Microsoft or Google will buy them ;) !
Need_a_Dell said:
This does seem like a ploy to back out of the limelight. This legal battle may limit their productivity in the future, and these purchases may be a way for them to go down gracefully with some money out the backdoor. (This probably isn't the case, but just my speculations.)
nathanskywalker said:
Stocks rise...stocks fall. mmmm... though in the future i would not doubt that they will lose some money, do to the fact that GTA will probably continue to suffer law-suits, as well it should.
Vaulden said:
Another thing Take Two has had to deal with is EA. Take-Two had a hand in 2kSports and Sega, the makers of the ESPN NFL 2kX games. Now that EA has acquired the exclusive rights to the NFL and its players, they had to research a new direction for their football games. I'm sure this didn't affect them as much as the "Hot Coffee" incident, but I'm sure it did not help them either.
gamingmage said:
I think that this won't be the end for Take-Two (at least not yet). They do have to worry about messing up like this again, and at the same time worry about competition so, right now they have their hands full. Maybe this rebound will stick.
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