We broke the news yesterday of the Manhattan District Attorney's Office issuing a subpoenea to Take-Two as part of a grand jury investigation into Hot Coffee Gate. Today, investors showed their unhappiness, with the company's stock plummeting nearly 20 percent since yesterday's close.
According to this chart, while the stock opened at a dismal 9.85 a share, it has already rebounded to a still dismal 10.36. There's also a HUGE spike in volume. The three month average is 1.7 million or so, and today's volume has already hit 8.2 million.
Say it with me. Buy, Sell, Buy, Sell!
Take-Two [Yahoo Finance]
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