Take-Two Stock Gains On Surprise GTA VI Trailer Despite 2026 Delay

The trailer has also fueled speculation among fans around the return of Phil Cassidy, a recurring character from GTA: Vice City and GTA III.

Shares of Take-Two Interactive Software (TTWO) rose as much as 2% Friday following the surprise release of a second trailer for Grand Theft Auto VI (GTA 6), even as the broader market traded lower. 

The update came just days after the company confirmed the game’s launch had been postponed to May 2026 from its original target of fall 2025.

The roughly three-minute trailer introduces more narrative detail and new footage, spotlighting GTA’s first-ever female protagonist, Lucia. She is shown meeting her partner Jason upon her release from prison, with the two later depicted in armed robberies and other criminal activity. 

Rockstar describes the pair as caught in “a criminal conspiracy stretching across the state of Leonida,” relying on each other to survive.

Fans also picked up on the return of Phil Cassidy, a recurring character from GTA: Vice City and GTA III. Cassidy appears in the trailer atop a storefront labeled ‘Phil’s Ammu-Nation’ — but with both arms intact. 

That detail has fueled speculation about the game’s timeline. In earlier titles, Cassidy had only one arm, raising questions about whether GTA VI could be a prequel.

Some fans suggest the character may have been retconned. Others believe this version could be his son, hinting at a generational continuation. However, the game’s setting, which features more advanced technology than earlier titles, complicates the prequel theory.

The delay was not a major surprise to Wall Street, though it triggered analyst revisions. BMO Capital lowered its price target for Take-Two’s stock to $236 from $240 while maintaining an ‘Outperform’ rating. 

JP Morgan noted the delay could give Electronic Arts (EA) a chance to gain market share by launching its key titles during the extended window.

Despite the revised timeline, Take-Two stock is up 25% year-to-date and about 60% over the past 12 months.

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