Shares of Take-Two Interactive (NASDAQ:TTWO) have surged strongly over the past month despite downgrades in mid-September by Wall Street analysts who think that delays in the launch of new video gaming content will weigh heavily on the company’s performance.
BMO Capital Markets analyst Gerrick Johnson slashed his rating on Take-Two stock from outperform to market perform on Sept. 17, stating that the four-month delay in the launch of the enhanced versions of games in the popular Grand Theft Auto franchise would mean that the company will lose out on the lucrative holiday season. Take-Two plans to release the improved versions of Grand Theft Auto V and Grand Theft Auto Online for PlayStation 5 and Xbox Series X/S in March 2022 as opposed to its original plan of Nov. 11, 2021.
TTWO data by YCharts
But the recent stock price action indicates…
