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Take-Two Interactive (TTWO), a video-game publisher that competes with Activision Blizzard (ATVI) and Electronic Arts (ERTS), saw a huge increase in its share price during Thursday and Friday's sessions. Can you believe the stock was bid to a quote of $10.04 -- a 13% gain?Take-Two Interactive (TTWO), whose competitors in the video-game industry include Activision Blizzard (ATVI) and Electronic Arts (ERTS), is doing good business with its Red Dead Redemption title. But is that enough to make you want to buy the stock?
According to the AP, the game sold 1.5 million copies in the month of May. That's relatively impressive, but it unfortunately did not meet the expectations of Michael Pachter, who is an analyst for Wedbush Morgan. He was thinking 1.8 million copies was doable. Even so, you have to hand it to management for a robust launch.
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