L.A. Noire gives much-needed boost to Take-Two shares

Wednesday, 18 May 2011 06:00 GMT By Jessica Citizen

Following the release of L.A. Noire in the United States, Rockstar Games’ parent company Take-Two Interactive has seen its shares skyrocket to a new three-year high.

LA Noire - Slot Machine

Shares closed at $17.10 on May 17th, 7.75% up on the previous day, after peaking earlier at up to 10% higher during market hours.

The game – and its overwhelmingly positive reviews – is being credited with the share price rise. It is the highest Take-Two’s stocks have traded for since September 2008, when the now-failed EA acquisition bid was taking place. Current prices are still below that $27 price point, and even that is below the company’s all-time high – $28, just after the release of Grand Theft Auto: San Andreas.

It seems that the share market, and indeed the financial sector, has been surprised by the success of L.A. Noire, which is currently ranked 91 and 92 out of 100 on Metacritic, for the PS3 and Xbox 360 versions respectively.

Gamasutra has more details.