Take-Two stock plummets on delays announcement
After hours trading stings US publisher as shares fall by more than 13%
Shares in US publisher Take-Two plummeted in after hours trading yesterday following the announcement that one of its key forthcoming releases, BioShock 2, would be delayed.
Following a steady day in which the company's stock had climbed by around 1.6 per cent, the announcement - made after trading had ended - then saw after hours transactions push Take-Two's value down by 13.1 per cent.
Mafia II, Max Payne 3 and Red Dead Redemption have also suffered from delays and all will now be published in the company's fiscal 2010 period, which runs from the end of October this year onwards*.
At the time of writing the shares were worth USD 7.80 each, down from USD 8.98 at yesterday's close, valuing the company at around USD 720 million.
*This was originally reported as April 2010 onwards. GamesIndustry.biz would like to apologise for any confusion caused.