TTWO Jan 2025 120.000 put
| Previous Close | 4.70 |
| Open | 5.50 |
| Bid | 5.45 |
| Ask | 5.80 |
| Strike | 120.00 |
| Expire Date | 2025-01-17 |
| Day's Range | 5.50 - 5.50 |
| Contract Range | N/A |
| Volume | |
| Open Interest | 3.2k |
- Reuters
UPDATE 1-'Grand Theft Auto' publisher Take-Two Interactive to lay off 5% of staff
Take-Two Interactive Software will lay off about 5% of its workforce, the publisher of the "Grand Theft Auto" franchise said on Tuesday, as the gaming industry extends its job cuts from the past two years into 2024. The company said it would also scrap several projects that are in development as part of a cost-reduction plan, which is expected to lead to total charges of $160 million to $200 million.
Reuters'Grand Theft Auto' maker Take-Two to let go 5% of staff, scrap some projects
Take-Two said the move is expected to drive more than $165 million of annual cost savings. The move aligns Take-Two with Tencent-owned Riot Games, Electronic Arts and Japan's Sony Corp in trimming workforce this year due to uncertain spending from consumers after the pandemic-era boom. Take-Two will also reduce some office space as part of the move.
- Yahoo Finance Video
Take-Two Interactive upgraded to Buy at Citi
Citi analyst Jason Bazinet upgraded shares of Take-Two Interactive (TTWO) to Buy from Neutral. Bazinet also raised his price target on the stock to $200 from $170. In his note, Bazinet makes the case for a 4:1 risk/reward ratio, which, by his estimates, makes the stock "compelling" at current levels. Yahoo Finance's Myles Udland and Julie Hyman discuss the note in the video above. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor's note: This article was written by Stephanie Mikulich.
