GTA 6 preview lifts Take-Two shares
Shares of Take-Two Interactive, the parent company of Rockstar Games, rose 2.5% in premarket trading in the United States after the first official extended preview of Grand Theft Auto 6. Strong interest in the presentation caused temporary access problems on Netflix and Twitch, CNBC reports.
Demand for the presentation
Netflix, in an unusual format for the service, was the first to show an extended look at the game. Some users received error messages and had to refresh the page. Netflix said that some subscribers briefly experienced access problems, but the service quickly resumed normal operation.
Wells Fargo analysts also recorded Twitch bandwidth problems during the trailer release. In their assessment, players' reaction to the presentation was mostly positive.
Sales forecasts
The release of the sixth installment of Grand Theft Auto is scheduled for November 19 for PlayStation 5 and Xbox Series X/S. According to analytics company Newzoo, global pre-order volume stands at about $260 million. The company suggests that game sales by release week could reach $4.5 billion.
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Christopher Dring, co-founder and editor-in-chief of analytics company The Game Business, said that showing the game on Netflix indicates the exceptional scale of this release. He also noted that GTA 5, released 13 years ago, remains among the five best-selling video games every year.
Investor assessments
Analysts at Morgan Stanley and JPMorgan said in investor notes that they were optimistic about Take-Two shares, citing growing interest from institutional and retail investors in game publishers ahead of the expected release.
At the same time, Wells Fargo believes that more positive news about a new version of the standalone multiplayer game GTA Online is needed for a more sustained increase in the company's valuation. The firm also warned that sales expectations may not be met or the release may be postponed.
