NEW YORK, September 1, 2026, 06:59 EDT – Shares of Take-Two Interactive Software (TTWO.O) declined 6.7% in premarket trade, wiping out $2.9 billion in market capitalization ahead of the eagerly awaited Grand Theft Auto VI release.
- Take-Two closed Monday at $219.70, down 6.67%, before gaining 0.39% in premarket trade.
- The drop eliminated about $2.93 billion, an amount nearly 2.1 times higher than the planned yearly rise in bookings.
- Take-Two maintains its fiscal 2027 bookings forecast at $8.0 billion to $8.2 billion, as GTA VI remains scheduled for a November 19 launch.
- Eighteen analysts tracked have assigned Buy ratings to the shares, setting an average price target of $297.29.
Take-Two Interactive Software Inc. NASDAQ:TTWO saw its market value drop by an estimated $2.93 billion on Monday after renewed concerns over unauthorized Grand Theft Auto VI footage led to a fall in its shares.
The loss was equivalent to 2.1 times the annual bookings increase Take-Two had aimed for. While the numbers are not directly comparable, they highlight how much investors recalibrated their view of launch risk.
The shares closed the day at $219.70, down $15.69, or 6.67%. Trading volume reached 6.85 million shares, which is roughly 3.1 times the average. At 06:59 EDT Tuesday, the stock was changing hands at $220.55 in premarket action, up 0.39%.
TTWO’s six-session slide met only a small premarket bounce
Daily closes in U.S. dollars; September 1 is the premarket quote.
Monday’s drop was attributed to persistent leaks of gameplay videos. According to BofA Securities, certain clips could feature a playable version. However, the company highlighted that there was no conclusive evidence supporting that a release-ready version exists.
The $2.93 billion sum is based on Monday’s decline of $15.69 and Take-Two’s 186.98 million shares in circulation. The company’s midpoint estimate for fiscal 2027 bookings is $8.10 billion. In fiscal 2026, bookings amounted to $6.721 billion, showing a planned increase of $1.379 billion.
One day’s equity loss outweighed a full year’s planned bookings lift
U.S. dollars; market value is an estimate, while bookings use company guidance.
Calculation: $15.69 share-price decline × 186.98 million shares. Sources: Google Finance and Take-Two. Market value and bookings are different measures.
Management reiterated its fiscal 2027 bookings outlook at $8.0 billion to $8.2 billion. Chief Executive Strauss Zelnick stated the firm expects to “generate strong cash flows.” Projected operating cash flow remains over $1 billion.
The outlook remains mixed. First-quarter bookings dropped 3% to $1.386 billion. Revenue rose 2% to $1.534 billion, while the net loss widened to $34.1 million.
Recurring consumer spending made up 84% of bookings for the quarter, down 1%. This type of revenue helps balance fluctuations in launch timing. Take-Two expects Rockstar Games to contribute 37% of bookings this fiscal year, ahead of Zynga at 34% and 2K at 29%.
Wall Street remains upbeat. Bank of America Corp. NYSE:BAC on Monday reiterated its Buy rating and held a $368 price objective. Google Finance indicates that all 18 analysts tracked currently have a Buy rating on Take-Two.
Analyst targets remain far above Monday’s close
Twelve-month targets from 18 analysts; U.S. dollars.
The average target implies 35.3% upside from Monday’s close. Source: Google Finance, September 1, 2026.
The consensus price target stands at $297.29, indicating a possible 35.3% upside from Monday’s closing level. The most conservative target, set at $270, points to a 22.9% rise. Analysts say these projections now signal confidence in performance, rather than being driven exclusively by valuation.
Rockstar maintains November 19 as the GTA VI launch date for PlayStation 5 and Xbox Series X|S. An extended gameplay showcase became available on August 27. Take-Two continues to emphasize the game’s release as its leading near-term earnings catalyst.
Risks: Independent verification of the leaked video is still pending. Bookings could fall if customers reschedule, post critical reviews, object to pricing, or curb their online purchases. Conversely, should the launch go as planned, the losses from Monday could be excessive.
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