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Take-Two Interactive stock ticks up after 'Grand Theft Auto 6' leak

Shares of Take-Two Interactive Software are rebounding after the leak of its mega popular Grand Theft Auto 6 game.

Video Transcript

- It's time for Triple Play, the three stocks that we're watching in the final 30 minutes of trading. We're looking at Take-Two Interactive, Wix, and Moderna. Now, T2, Take-Two Interactive, is my stock pick. Now, the stock actually bounced back after falling about 3% today on news that its studio Rockstar Games was hacked. The stock now, as you can see, up slightly just about 1%. Now, the hacker leaked early development footage from the highly anticipated and unreleased Grand Theft Auto 6. And of course, that's one of its biggest and most lucrative franchises.

Now, in a statement, the company acknowledged their disappointment that someone had illegally accessed and downloaded confidential information from their systems but said that work on GTA 6 would still continue. They also said, quote, "we do not anticipate any disruption to our live game services nor any long-term effect on the development of our ongoing projects."

That did seem to ease investor concerns there and perhaps give a bit of free advertising as people got a sneak peek. But it is unfortunate when you think of the years of production that really goes into a game like this. And of course, you have the gaming market conditions most recently described by NVIDIA as challenging, Seana. So a double-edged sword here today for them.

- Yeah. Certainly. I mean, it's interesting when we take a look at the snapback in shares today. But it is-- I want to bring up the comparison here to Uber and what we talked about on Friday and the hack there because it turns out that the same group may be responsible. And that group's name is Lapsus$. Now, Uber out with a statement updating everybody about the hack that they were looking into over the last couple of days. They cited reports that maybe the same company, or maybe the same group, I should say, is responsible here for this hack.

Now, another reason why we could be seeing the reaction that we're seeing this afternoon in Take-Two is because we're starting to get some commentary from analysts here. And they don't really seem to be too concerned at all. Benchmark was saying that this could be a good buying opportunity for the stock. Analysts at Oppenheimer with an outperform rating, saying that they don't think the damage will be too significant here down the road. So big reason here why the stock is now up just about 1%.