Grand Theft Auto Maker Take-Two Interactive To Slash 5% Workforce - What's Going On?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 17 2024
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Source: Benzinga
- Cost Reduction Program: Take-Two Interactive Software, Inc. plans to reduce headcount and future hiring needs as part of a cost reduction program.
- Financial Impact: The company estimates total charges of $160 million to $200 million for the plan, with $40 million to $60 million resulting in future cash expenditures.
- Workforce Reduction: The plan aims to cut the company's workforce by approximately 5% and includes title cancellations, employee severance costs, and office space reductions.
- Grand Theft Auto VI: Anticipated for release in 2025, Grand Theft Auto VI is expected to be highly profitable, potentially one of the highest-grossing media products.
- Stock Performance: TTWO stock has gained over 16% in the past year, and investors can access it through Roundhill Video Games ETF NERD and VanEck Video Gaming And ESports ETF ESPO.
Analyst Views on NERD
Wall Street analysts forecast NERD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NERD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 23.748
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Current: 23.748
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
