How New Consoles Could Power Take-Two Stock to New Heights
Gaming stocks like Take-Two Interactive (NASDAQ: TTWO) are flying high as the COVID-19 pandemic left millions with both the time and inclination to play video games. But investors may have an excellent reason to follow Take-Two stock regardless of the coronavirus.
Industry analysts expect both Sony and Microsoft to release their next-generation game consoles during the upcoming holiday season. Those major hardware debuts, plus a growing interest in gaming overall, should help fuel a resurgence in both game sales and new releases.
At the beginning of the year, few likely anticipated that a pandemic would drive an increased interest in gaming, and by extension, Take-Two stock. The company had seen lower profits as two of its games failed to meet "very high" expectations. In the quarter that ended on Dec. 31, net income fell 9% year over year.
Source Fool.com
