Take-Two's Share Price Sinks After GTA 6 Leak
The parent company of Rockstar Games is having a tough start to the week on the stock market.
Following this past weekend's massive GTA 6 leak, shares of Rockstar Games parent company Take-Two Interactive slumped when the market opened today. Take-Two's share price tanked by more than 6% in pre-market trading today, September 19, according to Reuters.
The stock price rebounded slightly since the market opened at 9:30 AM ET, but Take-Two's overall share price has been trending down all year, falling by more than 31% year-to-date.
In a statement following the GTA 6 leaks, Rockstar Games said is does not anticipate any disruption to its ongoing live-service operations or future projects, like GTA 6. The company said it "suffered a network intrusion" that led to someone "illegally" accessing and downloading confidential information, including what Rockstar said was "early development footage" of GTA 6.
Following the leak, developers from across the gaming industry offered support to the developers at Rockstar Games.
The research firm Jefferies said in a statement that the GTA 6 leak is a "PR disaster" that could potentially delay GTA 6 and negatively impact morale at Rockstar Games. Whether or not GTA 6 will be delayed, however, is unknown. Rockstar said in a statement that there shouldn't be any "long-term effect" on its ongoing projects, including GTA 6.
In a filing with the US government, Take-Two said: "Current Rockstar Games services are unaffected. We have already taken steps to isolate and contain this incident. Work on the game will continue as planned. At this time, Rockstar Games does not anticipate any disruption to its current services nor any long-term effect on its development timelines as a result of this incident."
The person claiming responsibility for the GTA 6 hack has also taken responsibility for the recent cyber attack against Uber. The person has said they are looking to "negotiate a deal" with Take-Two.
GTA 6, or whatever the game ends up being called, is a sequel to GTA V, which is one of the best-selling games in history with more than 170 million units sold.
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