Take-Two Interactive's share price fell as low as 12 percent today, as it came to light that the upcoming Grand Theft Auto V
has been delayed until September.
The highly anticipated GTA
installment had previously been penned in
for a release sometime this Spring. According to a new post on the Rockstar blog
, the game will now be released on September 17.
The post states that the team behind the game needs the extra several months to give the game "a little more polish to be of the standard we and, more importantly, you require."
Retailer GameStop also saw its shares slip as a result of the delay, down 2.9 percent in earlier trading.
With the game now due for release in the fall, Take-Two and Rockstar will now go head-to-head with other industry big guns -- although it seems more likely that it will be the other companies who need to worry about a negative impact on sales, as GTA V is predicted to sell around 25 million
in its first year.
Share prices are on the rebound as cooler heads prevail: at our last check they were trading for $12.32
, a 5.67% drop from yesterday's closing price.