As a leader in video game development, Take-Two Interactive (NASDAQ: TTWO) has made a name for itself with the success of its two biggest publishing labels, Rockstar Games and 2K. The two studios are responsible for immensely popular franchises such as Grand Theft Auto, Red Dead Redemption, Borderlands, and NBA 2K.

Yet, its stock is down 30% year to date, taking hits from a decrease in consumer demand across the tech industry and a disappointing quarter following a pricey acquisition. Despite its losses in 2022, there is some crucial information that all investors should be aware of that could help Take-Two's business soar over the long term. Let's dive in.

In May, Take-Two made a move to diversify its business by purchasing mobile-games star Zynga for $12.7 billion. According to Statista, the mobile gaming market will jump from $152 billion in 2022 to $222 billion by 2027 -- an annual growth rate of 7.77%. As a result, a number of companies have entered the industry. 

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Source Fool.com