If you’re looking for a stock that’s flying in the pre-market hours this morning, look no further than Take-Two Interactive Software, Inc Common Stock (NASDAQ: TTWO). The company announced that it produced a game that achieved the single-biggest opening weekend in the history of entertainment. As you could imagine, the announcement led to some serious excitement. Today, we’ll talk about:
- The game that’s leading to all of the excitement;
- what we’re seeing from TTWO stock as a result; and
- what we’ll be watching for ahead.
TTWO Gains Big On Red Dead Redemption 2
As mentioned above, Take-Two Interactive Software is seeing one of the strongest runs in the pre-market hours this morning after it saw incredible success with a video game. According to a press release, its game, Red Dead Redemption 2 has achieved the single-biggest opening weekend in the history of entertainment.
In fact, the game led to more than $725 million in worldwide retail sales during the first three days of its launch. In fact, the game is the second-highest grossing entertainment launch in history, second only to Grand Theft Auto V, a game that delivered more than $1 billion in retail sales in the first three days.
Moreover, TTWO said that Sony has confirmed that Red Dead Redemption 2 set new records on the PlayStation Network with the highest ever pre-orders, highest day one sales and highest sales for the first three days at market. The game has hit a series of benchmarks, making TTWO investors incredibly excited. Here’s a list of these benchmarks that have already been reached:
- Biggest opening weekend in retail sell-through across all entertainment releases;
- Second biggest launch (three days) in retail sell-through across all entertainment releases;
- Biggest entertainment launch of 2018;
- Most pre-ordered full game ever on PlayStation Network;
- Biggest day one full game sales ever on PlayStation Network;
- Biggest first three days full game sales ever on PlayStation Network.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Take-Two Interactive Software, the news was overwhelmingly positive. After all, record breaking sales mean that the company will generate an incredible amount of revenue from Red Dead Redemption 2. So, it comes as no surprise that excited investors are sending the stock on a run for the top in the market this morning. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:38), TTWO is trading at $126.04 per share after a gain of $14.32 per share or 12.82% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TTWO. In particular, we’re interested in following the story surrounding the Red Dead Redemption 2 game and the revenue that the game drives through the door. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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