Take-Two Interactive Software, the parent company of Red Dead Redemption 2 developer Rockstar and 2K Games, has had a dramatic increase to its stock price today. The increase stemmed from an apparently erroneous report that Sony was discussing the possibility of acquiring Take-Two Interactive.
First, Market Watch reported that Wedbush Securities analyst Joel Kulina said Sony is currently in «advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal.» GameSpot contacted Kulina for clarification, and he expressed frustration with what he says was a misquote, leading him to be «bombarded with calls» about the comment.
«There is nothing behind this story that I’ve seen,» Kulina told GameSpot. «No one has found a source. Market chatter refers to simply what we hear on trading desks—happens daily, just more surprised this has gone viral like it has.»
Regardless, the initial comment was enough to kick off a flurry of trading, leading to a stock increase of nearly 7% as of the time of writing. Sony stock is also up slightly, at less than 1%. Kulina said there isn’t more to the story than the chatter, but the Take-Two stock jump is likely due to a favorable market position and the teaser released yesterday by Gearbox, which has been widely interpreted as a reference to Borderlands 3. Take-Two’s stock price has been on the decline recently, especially in the last month, so it was poised for a rebound.
Most recently, Sony and Rockstar partnered for timed exclusive Red Dead 2 content on PlayStation 4 and a special PS4 Pro console bundle. But Take-Two certainly isn’t wedded to one console, having developed games for multiple platforms over the years—some of which never appeared on a Sony console, like Rockstar Presents Table Tennis. Other properties under the Take-Two portfolio include the NBA 2K games, Civilization, and XCOM.
GameSpot reached out to Take-Two Interactive, which declined to comment.