Take-Two Shares up 12% on Speculation
Carl Icahn is at it again, buying up 5.9 million shares of Take-Two Interactive (NASDAQ:TTWO) and 783,479 call options in December. TTWO shares are up 12%, care to place your bet?
Take-Two (TTWO) reported a wider fiscal fourth-quarter loss yesterday and said that it's continuing to see a cautious consumer spending and game environment even into 2010. The company has struggled this year amid the recession, as game sales dropped.
Icahn hasn't said anything and neither has Take-Two yet already 14.8 million TTWO shares have traded before noon Friday. The day traders are now in control of Take-Two shares and until either the company or Icahn makes a comment you are gambling with the hope of a takeover or sale.
Best of luck to those playing.