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Interactive Take-Two (NASDAQ: TWO), parent company of Rockstar Games, popped up down 4.5% News of the highly anticipated emerged on Monday afternoon Grand Theft Auto VI facing a possible delay in release.
Rockstar Games has issued a return-to-office mandate for remote workers as it attempts release GTA VI on the market at the beginning of 2025, second to the gaming news site Kotaku.
However, it is becoming likely that the game will not be released until late 2025 or 2026 as production has fallen behind schedule, Kotaku added.
Rockstar Games issued a notice to remote employees in late February that they will have to return to the office five days a week starting in April, according to Bloomberg.
Take-Two continues to earn huge amounts of revenue from its GTA series even if the last episode, gta Vwas released in 2013.
During Take-Two’s third-quarter 2024 earnings presentation in February, the company reported GTA VI it would be released during the 2025 calendar year.
Bank of America lowered its Take-Two rating to Neutral from Buy with a $170 price target, assuming GTA VI it won’t launch until late 2025, among other reasons. Rockstar has a history of delaying launch dates, BofA said, underlining this Red Dead Redemption 2its last major release in October 2018, debuted with a trailer in October 2016, which indicated a fall 2017 launch.
Seeking Alpha reached out to Take-Two for comment, but did not respond before publication.