By Aditya Soni
(Reuters) -Take-Two Interactive Software said it would release a trailer early next month for the latest installment in its best-selling "Grand Theft Auto" videogame franchise, ending a years-long wait and sending its shares 8% higher on Wednesday.
The teaser for "Grand Theft Auto VI" will come more than a decade after the launch of its predecessor and will coincide with the 25th anniversary of Rockstar Games, the Take-Two (NASDAQ:TTWO) division behind the game.
Several analysts have predicted the new title would be an instant hit with billions of dollars in sales each year.
"The last one was the best-selling game of all time so not surprising that investors expect big things from the next installment," said Wedbush analyst Michael Pachter.
He expects the game to be priced around $70, compared with the nearly $60 launch price of 'GTV V'.
A hack last year released dozens of development videos of "GTA VI", showing footages of robberies, gunplay and open-world driving in what was one of the biggest gaming leaks.
Bloomberg News, which first reported the news on Tuesday, has previously said the game would be set in a fictional version of Miami and would feature two protagonists, a man and a woman.
Take-Two had hinted at the game's announcement in May, saying it would launch several "groundbreaking titles" in 2024 and projecting a surge in net bookings to over $8 billion next year.
"GTA V" has garnered around $7.68 billion in sales since launch and ranks among one of the most profitable titles ever.
Take-Two was on track to add nearly $2 billion to its market value, based on the early trading share price of $147.
The stock has risen by nearly a third this year, partly due to growing expectations of a reveal for the "GTA VI".