NEW YORK, August 15, 2022--Private Division, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), today announced they have signed a new publishing agreement with Wētā Workshop, best known for their work on Middle-earth for The Lord of the Rings film trilogy. In 2014 Wētā Workshop founded an interactive game division and are now developing a new game set in the Middle-earth universe of J.R.R. Tolkien. Middle-earth Enterprises have licensed the literary works of the series, p
Although most agree that the equity correction started only at the beginning of this year, for Take-Two Interactive Software, Inc. (NASDAQ: TTWO), it started as early as Q1 2021. Gaming stocks can be highly cyclical, depending on internal factors like the product pipeline or external ones like the console lifecycle. With missing earnings, more decline could be on the way for the stock that has already lost over 40% from its peak.
Demand is slowing in the video game industry, but Take-Two Interactive (NASDAQ: TTWO) is finding ways to expand anyway. The company behind big global franchises like Grand Theft Auto and Red Dead Redemption recently lifted its financial outlook following a strong start to fiscal 2023.