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Here is why Take-Two Interactive Software Inc. (TTWO) stock went down on Monday?

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KOF Stock

Take-Two Interactive Software Inc. (TTWO) shares declined 3.68% in after-hours on Monday, August 2, 2021, and closed the daily trading at $166.84 per share. In the regular trading session on Monday, TTWO’s stock lost 0.12%. TTWO shares have risen 5.60% over the last 12 months, and they have moved up 0.18% in the past week. Over the past three months, the stock has gained 1.71%, while over the past six months, it has lost 13.80%. The company has a current market of $19.78 billion and its outstanding shares stood at 115.10 million.

Let’s see what is the reason behind its negativity on Monday?

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TTWO recent financial results announcement

On August 02, 2021, Take-Two Interactive Software, Inc (TTWO) reported its financial results for the first quarter of its fiscal year 2022, ending June 30, 2021.

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TTWO Q1 2022 financial highlights

Financial guidance for FY 2022

For the fiscal year ending March 31, 2022, TTWO is expecting

Acquisition of Dynamixyz

On July 01, 2021, Take-Two Interactive Software, Inc (TTWO) acquired privately-held Dynamixyz, which has been a valued partner of the entertainment industry, including Take-Two’s wholly-owned labels, Rockstar Games and 2K, and has worked on such acclaimed projects as Red Dead Redemption 2 and NBA 2K21, the animated series Love, Death & Robots, and movies, including Avengers: Endgame.

Take-Two (TTWO) Latest Kerbal Space Program

On June 24, 2021, Take-Two Interactive Software announced that Kerbal Space Program Enhanced Edition is coming to PlayStation®5 and Xbox Series X|S this fall. Kerbal Space Program Enhanced Edition on these consoles will benefit from multiple hardware advancements and developments which allow for an upgraded resolution, improved framerate, advanced shaders, better textures, and additional performance improvements.  Kerbal Space Program Enhanced Edition on the latest consoles will also provide full support for a mouse and keyboard.

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Conclusion

The TTWO stock sank on Monday after the company provided an updated financial outlook for FY 2022 which was not attractive for the investors. It can further decline in the coming days.

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