Take-Two shares fall after Zynga purchase

Take-Two shares fall after Zynga purchase

Today it was revealed that Take-two, the parent company of Rockstar and 2K, has acquired Farmville owners Zynga for the modest sum of $ 12.7 billion. As expected, the world of finance has already reacted to this news. While things are positive on Zynga’s side, It seems that the story is different with Take-Two.

Shortly after this purchase was made known, it was revealed that Take-Two’s shares on the exchange lost 23.40 points, representing a 14.22% drop. This means that the share price is $ 142.99 so far.. By comparison, last Friday, January 7, we saw a total of $ 164.63 per share. However, it is important to mention that this number has been increasing little by little throughout the day.

The last time Take-Two suffered such a drop was in June 2020, when its shares cost $ 139.57. However, on the other side of the coin, Zynga shares increased 2.65 points, or a 44.25% increase, thus reaching a price of $ 8.66 dollars.

This means that shareholders and analysts they see this union as something positive for Zynga, but not as effective for Take-Two. However, this could well change in the future. Although the acquisition does not guarantee something, this could well mean the arrival of series like GTA and Red Dead Redemption to mobile devices, something that experts assure will be a success.

In related topics, here you can learn more about this purchase. Likewise, fans are demanding that Rockstar deliver more content to Red Dead Online.

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Editor’s Note:

Usually this does not happen. When a company acquires a company specializing in mobile devices, the market reacts positively, but it seems that this was not the case this time. Hopefully Take-Two will announce its plans with this purchase in the coming days, and thus clarify several doubts.

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Via: Yahoo! Finance