In his first Executive Decision segment of "Mad Money" last Friday, Jim Cramer spoke with Strauss Zelnick, chairman and CEO of Take-Two Interactive Software (TTWO) , a video game maker that posted strong quarterly results.
Zelnick said Take-Two saw broad strength across many of its titles and net bookings topped $1 billion for the quarter. He noted it has taken a lot of hard work to get to where the company is now, a place where consumers are engaged with new releases and stay engaged between releases.
Take-Two is seeing strength in both console gaming and more casual mobile gaming. In both cases, Zelnick said, the pandemic has reintroduced many people to gaming and new communities with which to share those games.
We last looked at TTWO on Aug. 11 and wrote at that time, "TTWO has broken out from a large consolidation pattern but it has reached or almost reached two price targets on the Point and Figure charts. Some sort of sideways to lower correction could unfold in the days and weeks ahead. Buyers could monitor this anticipated correction for a buying opportunity."
Prices did weaken from August into September, so let's check out the charts and indicators again for Take-Two, which is a holding of Cramer's Action Alerts PLUS charitable trust.