Feb 16, 2007 1:09 PM

Analyst Downgrades Take Two Stock

More bad news for Take Two — Wedbush Morgan Securities analyst Michael Pachter has downgraded the company’s stock from "hold" to "sell." That means, in Pachter’s estimation, it’s time to divest yourself of T2 stock: [Take Two] has embarked on the wrong strategy in its attempts to diversify away from its Grand Theft Auto revenue […]

More bad news for Take Two -- Wedbush Morgan Securities analyst Michael Pachter has downgraded the company's stock from "hold" to "sell." That means, in Pachter's estimation, it's time to divest yourself of T2 stock:

[Take Two] has embarked on the wrong strategy in its attempts to diversify away from its Grand Theft Auto
revenue base. It has consistently gambled on money-losing games in its effort to diversify, and made a huge bet when it embarked on its sports strategy.

The news comes just a day after the company's former chairman pled guilty to charges stemming from stock options violations.

Wedbush Downgrades Take Two, Despite GTA Upside [Gamasutra]

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Chris Kohler started writing for WIRED in 2002, and founded WIRED.com's Game|Life channel in 2005. He is the author of the books Power-Up and Retro Gaming Hacks, and co-hosts the Stitcher Award-winning podcast Good Job, Brain! ... Read More

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