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GTA 6 Is Going To Be Huge. So Why Is Take-Two’s Stock Having Such A Bad Year?

GTA 6 Is Going To Be Huge. So Why Is Take-Two’s Stock Having Such A Bad Year? https://ift.tt/WumgPLN Take-Two owns one of the largest entertainment franchises out there in Grand Theft Auto. The newest entry, GTA 6, launches this November. There is enormous hype for the new game, which is expected to sell millions of copies at launch and break records. In short, it's expected to be a once-in-a-decade (if not ever) kind of title. The game is also coming to market with a lot of positive sentiment and excitement. If you're a Take-Two shareholder, however, the past year has been a big bummer. Take-Two's share price has slid about 15% so far this year and is down about the same over the past year, meaning anyone who invested in the past year has lost money (at least on paper; gains or losses are not realized until positions are sold) in the run-up to GTA 6's release in November.  What's going on here? There are plenty of factors involved in what could be driving Take...
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Indie Publisher Thunderful To Lay Off 20% Of Its Workforce

Indie Publisher Thunderful To Lay Off 20% Of Its Workforce https://ift.tt/l6CJF1o

Thunderful Group, a company group that includes the developer behind SteamWorld Build, and publishers of a huge number of indie games, has announced a restructuring that will see around 20% off its staff laid off.

2023 was a terrible year for layoffs in the games industry, and less than a month in, 2024 is already following a similar trend, with major layoffs at both Discord and Twitch in the last week. Just the latest company to announce impending layoffs, Thunderful Group is a Swedish company whose subsidiaries develop, publish, and distribute games and related products.

"The [restructuring] program aims at lowering costs and increasing focus on areas with the best future growth and profitability prospects," Thunderful's statement reads. "Actions will include both significant staff reductions and evaluation of divestment of non-strategic assets."

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