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 L.A. Noire  Boosts Take-Two Shares To 32-Month High
L.A. Noire Boosts Take-Two Shares To 32-Month High
May 17, 2011 | By Frank Cifaldi

May 17, 2011 | By Frank Cifaldi
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More: Console/PC, Business/Marketing



Rockstar parent company Take-Two Interactive saw its shares skyrocket following the first round of glaringly positive reviews for its just-released L.A. Noire.

Shares closed today at $17.10, up $1.23 (or 7.75 percent) from yesterday, trading for as high as $17.50 (up 10 percent) during market hours.

This represents not only the company's 52-week high, but also the highest its stocks have traded for since September of 2008, after an acquisition bid from EA caused shares to trade for as high as $27 (very close to the company's all-time high stock value of just over $28, following the release of Grand Theft Auto: San Andreas). The acquisition of course never happened.

L.A. Noire has been an undeniable critical success, currently ranked 91 and 92 out of 100 on review aggregate Metacritic for its PlayStation 3 and Xbox 360 SKUs, respectively.

The game is well regarded for its cinematic qualities, and was honored at New York's Tribeca Film Festival earlier this year, making it the first video game to receive that honor.


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Comments


Greg McClanahan
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I was sure that the success of LA Noire had to be already built into TTWO's share price before today. Guess not!


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