Take Two Interactive (TTWO) - Sold Out Position
I sold my entire position in TTWO today, for $20.14 per share. I originally got into TTWO in August at $10.62 per share. Excluding transaction costs, this resulted in a gain of 89%.
My reason for selling was simply that I thought the stock got ahead of itself. Very little has fundamentally changed since August. There is still an ongoing investigation, the company may still be de-listed and they have yet to product a new blockbuster (although Bully is doing quite well). The market, in it's mania, just got very excited about video game companies recently. For the stock to go up 89% when so little has changed just doesn't make any sense to me. Hence I sold out.
Now this is not to say that Take Two is a bad company, it just isn't a bargain anymore. I would love to see it dip down again and would take a new position. In the meanwhile I'll look for other opportunities.
My reason for selling was simply that I thought the stock got ahead of itself. Very little has fundamentally changed since August. There is still an ongoing investigation, the company may still be de-listed and they have yet to product a new blockbuster (although Bully is doing quite well). The market, in it's mania, just got very excited about video game companies recently. For the stock to go up 89% when so little has changed just doesn't make any sense to me. Hence I sold out.
Now this is not to say that Take Two is a bad company, it just isn't a bargain anymore. I would love to see it dip down again and would take a new position. In the meanwhile I'll look for other opportunities.
posted by spinoff at
4:01 PM
1 Comments:
I think TTWO is going better and better and its efforts devoted to 2K Sports will flourish soon later. At the meantime, ERTS seems to have been distracted by illusion from ad-games and its quality is being questioned now.
By
NervRaider, at 10:18 PM
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