LA Noire boosts Take-Two stock

by David Hinkle on May 18th 2011 4:30PM

Now here's a pretty open-and-shut case. What do you think could have caused Take-Two's share price to rise almost 18 percent yesterday? The company had the release of a little game called LA Noire to thank for that.

On Monday, Take-Two shares were hovering around $15 a pop, but shot up yesterday as LA Noire launched and closed at $17.10 -- the highest valuation since the proposed takeover by EA. As of the market's close today, shares were still trading in that range, hitting as high as $17.28 this afternoon.

Source: MCV

Tags: LA-Noire, microsoft, playstation, ps3, shares, stock, take-two, xbox

Reader Comments (23)

Hmmm how would a person buy a share? or couple dozen?

@ChiTownRuler23

Get in a time machine and do it before it shot up to its high??? Justa thought.

@MarkezJM I'm sure you could still buy shares not sure were but there has to be a place...buy them at 17.28 $ and sell when it reaches 20.00 $ :D

@ChiTownRuler23 Ameritrade, Scottrade, Fidelity, etc.

Same thing happened when Bioshock came out... back then I believe it was around $22 or something (I could be misremembering). This stock increase is only significant insofar as it happened because of the game's popularity and likely reciprocative sales, but in the long term it will only mean something in the context of Take Two's overall business plan.

@ChiTownRuler23
Don't buy a stock right after it rises nearly 20%. That's just foolish.

@dantsai Not necessarily true, otherwise investors would have missed out on Google when it rose 50%, then 100%, then 150%, then 500%

But yes, don't just buy stock thinking it will surely go up to $20. Buy stock as a long term holding for your excess cash; never go in debt buying stock or anything foolish thinking it will be quick money. If you sell within a year you pay MASSIVE taxes compared to the horrendous taxes selling a second year (15% I think).

@dantsai got it ill just pick the game up I'm going to throw the book at these crooks! it will be a nice change to play as the law after all the massacres i have been doing in GTA.

Remember, Joystiq comments are a great place for investment advice.

@ChiTownRuler23 You could always open an account on etrade. But you're throwing your money away unless you have at least $10,000 to invest and you don't have a strategy.

@ChiTownRuler23

Trust me, as an owner of 5 shares (I did it just for the hell of it), its not that worthwhile.

I bought shares before GTA IV launched at around $20, it went up to the mid to high 20s after GTA IV launch/EA buyout but it all fell apart down to