The price of Rockstar Games parent company Take-Two has fallen after Grand Theft Auto and Red Dead Redemption writer Dan Houser announced plans to leave the developer. Houser confirmed that he would be leaving Rockstar Games in a filing yesterday, prompting many fans to wonder what would happen to the company's biggest series without him.
Take-Two's shares have fallen by around 5.5%, or $7 per share following Houser's shock announcement that he is leaving Rockstar Games. The company's shares had been trading at around $127 each before the announcement and down to $120 afterwards. The fall in stock price is also the lowest price of Take-Two shares since December 9, when shares were being traded at $120.06.
The drop in share price confirms that shareholders, like many fans, are concerned about what Houser's departure means for Rockstar's future games. Houser co-founded the studio and is responsible for many of the best and most memorable moments in Rockstar's games. That also means that all of the funny quotes in Red Dead Redemption 2 and the hilarious scenes between Niko and Roman Bellic in GTA 4 were written by Houser or by a team he was at the helm of. The writing of these games is so important to their success and shareholders seem to feel that future Rockstar games will be less successful without Houser.
Take-Two's share price will likely bounce back though and demand may increase when Rockstar officially announces GTA 6. There have been several rumors about the new game such as when it will be revealed, who its protagonist will be, and if it will be on PS5 and Xbox Series X. The potential success of GTA 6 and the excitement around that game could send the stock price right back up again and could make its price go way higher than $127 a share.
GTA 6 isn't the only reason Take-Two shareholders have to be excited as Houser's departure will also have a huge effect on Rockstar's culture. It was Houser who found himself in controversy after revealing Rockstar's 100 hour work weeks for the writing team and there have been concerns about the company's treatment of staff for years.
Culture issues typically start from the top. However, with Houser being removed, Rockstar may become a more positive place to be a game developer. Rockstar has made changes to its development crunch since Houser went on a break in 2019. More changes like this could just mean that fans get to enjoy higher quality games.
Source: MarketWatch