{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
Markets
As of: {{timeStamp.date}}
{{timeStamp.time}}

Markets

{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
  • BREAKING

    HOME CAPITAL SAYS BERKSHIRE HATHAWAY'S STAKE TO FALL BELOW 10%
  • BREAKING

    BUFFETT: BERKSHIRE WILL 'CONTINUE TO CHEER' FOR HOME CAPITAL 'FROM THE SIDELINES'
  • BREAKING

    BUFFETT: BERKSHIRE HAS 'SUBSTANTIALLY EXITED' HOME CAPITAL INVESTMENT

Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

More Video

Dec 3, 2018

Red Dead's virtual economy creates real-life woes for Take-Two

Red Dead Online

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Red Dead Online has a problem with its virtual economy, and that’s taking a real-life toll on the game’s developer, Take-Two Interactive Software Inc.

A Forbes story over the weekend said that the game’s online economy has a “painfully slow” earn rate, meaning it takes too long for characters to generate wealth. The flaws could ultimately cost Take-Two (TTWO.O) a fortune in lost revenue, writer Paul Tassi said.

The concerns contributed to a decline of almost 8 per cent for Take-Two on Monday, marking its biggest intraday drop in nearly two weeks.

Still, the fears may be overblown, said Wedbush Securities analyst Michael Pachter. Red Dead Online is in beta mode -- a publicly available test phase. So there’s time to correct any problems.

Pachter estimates that the game will generate US$100 million next year.

“I’m confident that they will fix the problems before they launch the actual game,” he said in an email. The Forbes writer “critiqued a beta, with the defense that ‘sometimes beta tests don’t change.’ That’s fair enough, but if this is really as bad as he thinks, they would be fools not to fix it.”

In-Game Sales

Selling in-game items online has been a big part of the growth strategy for video-game makers -- and Take-Two in particular. Grand Theft Auto Online alone generated an estimated $758 million in revenue for Take-Two last year, according to a Piper Jaffray Cos. estimate.

The New York-based company is projected to have total revenue of US$2.98 billion in fiscal 2019 and US$2.86 billion in fiscal 2020, according to the average of analysts’ estimates compiled by Bloomberg.

The broader video-game industry has been on edge in recent days. GameStop Corp. plunged on Friday after predicting a weak holiday season. Other game makers, such as Activision Blizzard Inc., also have seen their shares hammered. After falling 5.1 per cent on Friday, Activision (ATVI.O) fell an additional 4.1 per cent on Monday.