A New Grand Theft Auto Game Is Coming -- Is Take-Two a Can't Miss Stock in 2024?

Huge news hit the video game market in the past few days. Rockstar Games, a studio owned by Take-Two Interactive (NASDAQ: TTWO), announced that the first trailer for a new Grand Theft Auto (GTA) game will be released on Dec. 5. Likely called GTA VI, it follows up on GTA V, which was released over 10 years ago and became the best-selling single entertainment title in history. To be clear -- that is the best-selling title across all forms of entertainment, not just gaming.

Shares of Take-Two have already soared 50% this year in anticipation of the game's release, with investors betting it will lead to a step-change in earnings power for the parent company. Does that make the stock a can't-miss opportunity in 2024? Let's investigate further.