Grand Theft Stock Shares: Take-Two, EA shares plummet
The epic struggle between Electronic Arts and Take-Two Interactive has finally drawn to a close. You might think that the hard part’s over – but for both companies, it just might be the start of a grueling climb back up. The Nasdaq Stock Market reports that, following the failed acquisition of Take-Two, stock shares for both companies have dropped. I guess misery loves company, eh?
We rarely come by news of stock movement in the games industry, but whenever we do hear of them, they usually come in the wake of some big waves. Take Square Enix for example: we learned their stock shares rose after announcing Final Fantasy XIII for the Xbox 360.
While that was something positive, this time around, misery loves company as both Take-Two Interactive and Electronic Arts lost some stock profile after EA’s takeover offer was finally closed. The deal was shut down just yesterday, and already, both companies are feeling its effects – T2 most especially.
As Bloomberg reports, the Nasdaq Stock Market charts show that Take-Two’s stock fell by $5.96 (27%) from US$ 21.89 to US$ 15.93. This is the biggest drop they’ve had since December, 2001. EA’s decline isn’t as substantial, clocking only a 2.7% drop (US$ 1.22), from US$ 44.99 to $43.77.
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