Take-Two Interactive Stock Is Trading Higher: What's Going On?

Take-Two Interactive Software Inc TTWO shares are trading higher Wednesday after it was announced that the company will be added to the Nasdaq-100 Index.

What Happened: Last week, the Nasdaq announced the results of the annual reconstitution of the Nasdaq-100 Index, which is set to become effective prior to the market open on Dec. 18.

The Nasdaq announced an update to its annual reconstitution late Tuesday after Pfizer said it had received all required regulatory approvals to complete its acquisition of Seagen. With the acquisition now expected to close on Dec. 14, the Nasdaq decided to remove Seagen from the Nasdaq-100 Index and add Take-Two Interactive. 

All other changes that were initially announced on Friday will remain the same.  

On Tuesday, Wolfe Research analyst Peter Supino initiated coverage on Take-Two with an Outperform rating and set a price target of $186.

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TTWO Price Action: Take-Two shares were up 3.41% at $162.55 at the time of writing, according to Benzinga Pro.

Photo: StockSnap from Pixabay.