I made the best investment call I've ever made. I'd held TTWO for a couple of years, rode it up on the ERTS takeover talk and for the most part held on as it drifted back into the 23's, but a year ago today I gave up and got the heck out of it. I've traded it a bit since then, and kicked myself for not holding it back at 7 for the latest move up, but am I glad I gave up on the hopes of better offers a year ago. Anyone on this board hold it all the way up and down? I'm thinking of starting a new position if it drifts back down a bit, as I think this has some good potential for FY10/11.
I did the same as you. Sold out on the erts buyout offer, got lucky. I bought into pwrd and snda. I still hold pwrd and sold snda a while back for a quick buck, unfortunately.
I was looking at getting back into ttwo and still could but am terribly unimpressed by zelnick and management. Sports really holds take2 back and probably always will. They only have one legit sports product in nba2k. They made a terrible deal with the housers essentially letting them walk away without owning new ip they create. at $11 im just not sure its worth the headache. I know bioshock 2 is coming out... but yet again take2 has so far made a pile of money on gta, and slowly is burning it all away.
>>Sports really holds take2 back and probably always will. They only have one legit sports product in nba2k.<<
Sports isn't that bad. It was a huge blow to lose football. And they made a bad deal with the MLB but that contract will expire eventually. I think NHL 2Kn at least breaks even . . . it is on many platforms, they've got the Wii exclusive with Motion+, it comes out every year. And NBA 2Kn is nothing short of a gold mine. If they can get football back or at lest get a better deal with the MLB, sports should be fine.
>>I know bioshock 2 is coming out... but yet again take2 has so far made a pile of money on gta, and slowly is burning it all away.<<
Burning it away? No, investing it in 2K Czech, Rockstar New England, Irrational games (now 2K Boston, 2K Australia, 2K Marin). They've invested a lot in Mafia 2, Red Dead Redemption, Bioshock 2, Max Payne 3, and other games . . . you need to see how those pan out before just dismiss it is 'burning it all away'.
I'm long 5K shares but with a drop will be back in 10K. I'm pretty happy to see that Agent is slated for a 2010 release (i'd say a little higher than 50% that it gets delayed but still nice to see that Rock* is on this).
With the PS3 and 360 consoles down to $299, Take Two probably has $4-$5 in earnings in the next 2 years.
>>With the PS3 and 360 consoles down to $299, Take Two probably has $4-$5 in earnings in the next 2 years.<<
These moves certainly do heavily help TTWO more than others. TTWO is more dependent on high-def xbox 360 and PS3 games. Mostly the the former but that is only because of its larger installed base.
Bioshock 2, Red Dead Redemption, Max Payne, LA Noir, modern GTA console games, and Mafia 2 will all only be available on the high-def consoles (and PC for some). That is TTWO's bread & butter. So, the cheap xbox 360 & PS3 prices should help them more than other publishers that have more robust Nintendo Wii and DS slates of product.