GTA V announce drives Take Two shares up

By Brenna Hillier, Wednesday, 26 October 2011 00:50 GMT

Rockstar and 2K parent company Take Two has seen a significant share price jump in the wake of Grand Theft Auto V’s announcement.

Gamasutra reports Take Two shares increased by almost 6% after the announce was made.

Trading closed with the shares at $15.22, but they spiked as high as $15.71, and are going for $15.36 in after hours.

“If Rockstar announces the official release date for the title, in conjunction with the release of the trailer, we think it will be positive for the shares,” analyst Arvind Bhatia of Sterne Agee said.

The firm predicts the game may sell 25 million units, a smilar figure to the 25 million predicted by Wedbush Morgan’s Michael Pachter.

Grand Theft Auto IV managed 22 million – so far.

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