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Is GTA VI's release being pushed back to 2026? Delay speculation causes developer's shares to plummet.
Rumors started to spread suggesting that the eagerly awaited video game, GTA VI, might be postponed due to production problems. Consequently, the stock value of Take-Two Interactive Software, the company that creates and develops the game, dropped notably.
On Monday, Take-Two Interactive Software Inc. saw a drop in investor trust due to rumors of a possible postponement in launching the much-awaited video game, Grand Theft Auto VI, according to Bloomberg.
The video game firm's stocks dropped 5.2 per cent in New York after Kotaku, a gaming website, reported potential delays in the production of the newest Grand Theft Auto game. It suggested that the game might not meet its anticipated 2025 launch timeline.
The report cites insiders who claim that Rockstar Games, a subsidiary of Take-Two, is still targeting an early 2025 launch for their video game. But company executives are increasingly worried that the release might be delayed to a later date, possibly even into 2026, as issues related to remote work continue to exist alongside plans for a compulsory return to office.
Take-Two Interactive didn't promptly reply to Bloomberg's inquiry about the alleged postponement.
Wedbush analyst, Nick McKay, voiced worries regarding how investors might respond if the launch date of Grand Theft Auto VI is indeed delayed past the fiscal year 2025.
He stressed that such a postponement would mean a longer wait than initially expected, which could potentially result in a negative reaction from the market.
McKay proposed that Take-Two could potentially counteract this negative image by taking some positive steps like launching a new Grand Theft Auto VI trailer or giving a promising forecast for the financial year 2026.
Bloomberg revealed in early February that Rockstar had directed its staff to resume full-time in-office work from April onwards, as the production of Grand Theft Auto VI approached its concluding phase.
This determination came after several security violations, which included the unapproved distribution of preliminary game clips and a trailer that got leaked in December.
Following the launch of the game's trailer on December 4, Take-Two Interactive has seen a drop of more than 8% in its stock value. This is in stark contrast to the slight increase of less than 1% that the Nasdaq CTA Global Video Games & eSports Index experienced during the same timeframe.
(Incorporating information from various sources)
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