So here’s the thing about waiting for Grand Theft Auto VI: fans have been cooling their heels since 2013. That’s over a decade of anticipation. And just when everyone thought the wait was finally over, Take-Two Interactive dropped a bomb—GTA VI is getting pushed to November 2026. Cue the collective groan.
The stock market didn’t take it well. Take-Two shares tanked about 9% on the news, dropping to $230 per share. But here’s where it gets interesting: maybe the market overreacted.
Let’s look at the actual numbers. Take-Two just crushed their Q2 earnings. Revenue hit $1.77 billion, up 31% year-over-year and beating estimates. Net bookings came in at $1.96 billion, up 33% and also beating expectations. The company’s even raising its full-year forecast. That’s not exactly a disaster.
Sure, the GTA VI delay stings. The game is the most anticipated release in gaming, and GTA V remains the best-selling console game ever with over 200 million units sold. When it finally drops, it’ll be a revenue machine. But here’s the kicker: Take-Two’s got plenty of other hits keeping the lights on. NBA 2K26, Borderlands 4, Red Dead Redemption 2, and their mobile games are all firing on all cylinders.
The real story? Take-Two is expecting record net bookings in fiscal 2027 when GTA VI launches. CEO Strauss Zelnick basically said this delay will set a new baseline for the entire business. That’s not a setback—that’s a setup.
The stock is still up 26% year-to-date, and analysts have a median price target of $280, suggesting 22% upside. Sure, it’s trading at 102 times forward earnings, which is pricey. But when you’ve got a cultural phenomenon about to hit the market, sometimes you pay a premium.
The lesson? Sometimes the market punishes good news because it’s not perfect news. Take-Two’s delay is disappointing, but it’s not devastating. The company’s fundamentals are solid, and GTA VI is still coming—just a few months later than expected.
