Take-Two shares jump

The release of LA Noire in the North American market yesterday has lead to a huge surge in Take-Two’s share price.

The company’s shares closed at $17.10 at the end of trading yesterday, a daily jump of nearly 18 per cent. It’s the highest valuation of Take-Two since the EA takeover rumours of late 2008.

As recently as 1:00pm on Monday May 16th Take-Two shares were trading for just $15.72.

LA Noire will release in Europe tomorrow and the UK on Friday.

Meanwhile, Industry Gamers reports that Sterne Agee analyst Arvind Bhatia believes the game will very much deliver the goods at retail.

"We think the Street is expecting the title to sell three to four million units and so far the initial reviews seem to support this thinking," he said. "Our channel checks last week regarding pre-orders also indicated unit potential in the three to four million range."

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