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TTWO Sep 2024 200.000 call

OPR - OPR Delayed price. Currency in USD
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0.01000.0000 (0.00%)
As of 09:59AM EDT. Market open.
Full screen
Previous close0.0100
Open0.0100
Bid0.0000
Ask0.2500
Strike200.00
Expiry date2024-09-20
Day's range0.0100 - 0.0100
Contract rangeN/A
Volume5
Open interest3.21k
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    More layoffs hit the video game industry: Analyst explains why

    Microsoft (MSFT) is cutting about 650 employees from its Xbox gaming unit. It's the latest in a string of layoffs that have impacted the video game industry. Wedbush Securities Managing Director, Equity Research Michael Pachter points out that in Microsoft's case, these jobs are redundant, stemming from its acquisition of Activision Blizzard last year. As for the broader industry, he said hiring increased during the pandemic when people were at home playing video games. Now, these companies are "right-sizing," though Pachter thinks they may be cutting too many jobs. Pachter also points to a broader shift in the industry, away from one where people buy the game once at a high price to one where there are in-game purchases. As a result, game makers don't need to make as many games to gain revenue and customers are playing existing titles for longer. Watch the video above to hear what Pachter thinks of Sony's (SONY) new PlayStation 5 Pro and why Take-Two Interactive (TTWO) "has a lot of momentum." For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Stephanie Mikulich.