Why Take-Two Interactive Stock Leaped 6% Higher Today
Rumor of a potential buyout from a big-pocketed strategic investor was inflating the share price of video game company Take-Two Interactive Software (NASDAQ: TTWO) on Thursday. As a result, its stock zoomed more than 6% higher on the day, trouncing the less than 0.8% gain of the bellwether S&P 500 index.
The hot gossip is that none other than Japanese tech and entertainment giant Sony (NYSE: SONY) is the interested party. Apparently, the company will make a play to buy Take-Two if Microsoft succeeds in its determination to acquire Take-Two's fellow video game maker Activision Blizzard.
The fuel for this rumor appears to be a Thursday morning post on a relatively obscure entertainment website called Xfire. The post cites as a source a tweet published on Monday by a self-described "gaming industry analyst" with the Twitter handle of Rythian.
Source Fool.com
