Why Take-Two Interactive Software (TTWO) Stock Hit A New 52-Week High Today
Portfolio Pulse from Henry Khederian
Shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) hit a new 52-week high, trading higher by 4.38% to $150.24. The rise is in sympathy with Activision Blizzard after a federal judge denied the FTC's request for a preliminary injunction of Microsoft's acquisition of the company. The FTC had not shown it is likely to succeed on its assertion that the combined firm will lessen competition in the video game library subscription and cloud gaming markets.
July 11, 2023 | 6:14 pm
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Take-Two Interactive Software's stock hit a new 52-week high, likely due to the positive sentiment surrounding the video game industry following the court's decision on Microsoft's acquisition of Activision Blizzard.
The rise in TTWO's stock price is likely due to the positive sentiment surrounding the video game industry following the court's decision on Microsoft's acquisition of Activision Blizzard. This decision may have alleviated concerns about potential anti-competitive behavior in the industry, which could have had a negative impact on TTWO's business.
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