Take-Two Interactive Software Rallies on GTA6 Rumors

Take-Two Interactive Software (TTWO:US) stock was seen rallying on Wednesday in response to a report in Bloomberg News that the video game publisher is preparing to announce a new Grand Theft Auto game.

The company’s Rockstar Games division, which is behind the popular video game, could announce GTA 6 as soon as this week, according to Bloomberg.

The prior version of the game sold more than 185 million copies and is the second-best-selling video game of all time. GTA is one of the key reasons why TTWO has a market cap of around $25 billion.

The news comes after leaks surfaced last year, showing early footage from Grand Theft Auto VI.

The announcement is likely to come when TTWO reports quarterly results on Wednesday, after the market close.

Take-Two shares rose 31% year-to-date through Tuesday’s close. The stock opened nearly 9% higher on Wednesday.

Congressman Ro Khanna has been trading TTWO shares throughout 2023.