Grand Theft Auto VI preorders are reportedly going live on May 18, a third trailer is widely expected to drop at the same time, and Take-Two's (TTWO) fiscal year earnings call falls on May 21.
That is three massive catalysts stacked inside one week. If you own Take-Two Interactive stock or have been watching it from the sidelines, pay close attention.
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www.barchart.comWhy the GTA 6 Preorder Leak Is Different this Time
By now, most GTA 6 fans have learned to treat rumors with skepticism. The internet has been running on recycled speculation for years. But the Best Buy (BBY) leak circulating this week is different, though Best Buy and Take-Two haven't legitimized it.
A Best Buy affiliate email, titled "GTA 6 Pre Order (Physical Game)," surfaced, which shows a promotional window running from May 18 to May 21. The email first appeared on a YouTube livestream and then spread across ResetEra, GTAForums, and Reddit as multiple affiliates confirmed they had received the same message. Insider Gaming independently verified its authenticity by having two separate affiliates forward the email directly. Crucially, the communications originated from Impact, one of the largest affiliate partner marketplaces in the business.Take-Two is scheduled to report its Q4 earnings call on May 21, which means company management will have real-time preorder data to share with investors. Rockstar Games, a Take-Two subsidiary, has previously launched preorders around the same time as a major earnings event.
Take-Two Delivered One of Its Best Quarters in Recent History
In its fiscal third quarter of 2026, Take-Two reported net bookings of $1.76 billion, meaningfully above the high end of guidance.
The company raised its full-year net bookings outlook to between $6.65 billion and $6.7 billion, representing roughly 18% growth over fiscal 2025. That midpoint figure sits roughly $725 million above what management initially projected back in May 2025. Recurrent consumer spending grew 23% in the quarter and accounted for 76% of net bookings. NBA 2K grew 30% year over year, and GTA Online grew 27%. The mobile business grew 19%, driven by Toon Blast, which surged 43%. The company also raised its operating cash flow forecast to approximately $450 million, up from a prior estimate of $250 million.CEO Strauss Zelnick put it plainly on the earnings call: "We are beyond thrilled with our expectations for next year."
GTA V has now sold more than 225 million units since its 2013 launch. That fanbase does not shrink but waits patiently. And when GTA VI launches on Nov. 19, 2026, it will attract an audience that has been starved for a decade.
For context, Cyberpunk 2077 holds the all-time preorder record at roughly 8 million units before launch. GTA V had seven million 11 years back. The expectation around GTA VI is that it could break pre-order numbers by a significant margin.
The Bull Case for TTWO Stock
Take-Two stock jumped roughly 5% on Thursday following the Best Buy leak.
For long-term investors, the setup looks attractive. You have a company posting record bookings, raising guidance, and sitting weeks away from what could be the largest entertainment launch in history.
The earnings power of GTA VI will not be fully reflected in one quarter. It will reshape the company's financial baseline for years. If you have been waiting for a clear signal to dig deeper into Take-Two, May 18 might just be that moment.
www.barchart.comAnalysts forecast Take-Two to expand its free cash flow from $326 million in fiscal 2026 to $2.53 billion in fiscal 2030. If TTWO stock is priced at 30x forward FCF, which is not too expensive, it could surge 70% within the next three years.
Out of the 29 analysts covering TTWO stock, 24 recommend “Strong Buy,” two recommend “Moderate Buy,” and three recommend “Hold.” The average Take-Two stock price target is $277, above the current price of $242.
On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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