Take-Two Interactive Software (TTWO) on Friday announced that its highly anticipated video game “Grand Theft Auto 6” is being delayed until mid-next year. TTWO stock tumbled on the news.
The game, also known as “GTA 6,” was originally planned for release this fall. But developer label Rockstar Games now expects to launch the game on May 26, 2026, during Take-Two’s fiscal 2027.
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“We support fully Rockstar Games taking additional time to realize their creative vision for ‘Grand Theft Auto 6,’ which promises to be a groundbreaking, blockbuster entertainment experience that exceeds audience expectations,” Take-Two Chief Executive Strauss Zelnick said in a news release.
He added, “While we take the movement of our titles seriously and appreciate the vast and deep global anticipation for ‘Grand Theft Auto 6,’ we remain steadfast in our commitment to excellence. As we continue to release our phenomenal pipeline, we expect to deliver a multiyear period of growth in our business and enhanced value for our shareholders.”
The company reiterated its expectation of achieving sequential increases in net bookings in fiscal 2026 and 2027. Further, it expects record levels of bookings during those periods.
On the stock market today, TTWO stock dropped 6.7% to close at 219.50. Earlier in the session, it fell as much as 10.3% to 211 before regaining lost ground.
On Thursday, TTWO stock notched a record high of 238 in intraday trading. It ended the regular session, up 0.8% to 235.17.
New York City-based Take-Two plans to post its fiscal fourth-quarter results on May 15.
A ‘Not-So-Bad’ Outcome For Take-Two
Take-Two’s announcement confirms recent rumors of production delays for ‘GTA 6,’ Benchmark analyst Mike Hickey said in a client note.
TD Cowen analyst Doug Creutz reiterated his outperform rating on TTWO stock with a price target of 211.
“We regard this as the ‘not-so-bad’ outcome as we now have a date certain, only about six months past the launch date we had expected,” Creutz said in a report. “Fiscal 2026 will still be a record bookings year with ‘Borderlands 4,’ ‘Mafia: The Old Country,’ and potentially other titles.”
EA Stock Rises On The News
Some Take-Two stock bulls called the pullback an opportunity to buy a high-quality name in the video game space.
“Historically, all Rockstar delays have ultimately proved to be buying opportunities into the eventual release cycle, and expect this time to be no different,” Jefferies analyst James Heaney said in a client note. He rates TTWO stock as buy with a price target of 225.
Meanwhile, rival Electronic Arts (EA) is a likely beneficiary of the “GTA 6” delay because it clears the holiday release schedule for its next “Battlefield” game.
EA stock jumped 4.1% to close at 151.10 on Friday.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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