TTWO has had a wild ride over the last year, and it’s honestly been tough to get a read on where the floor is. From a high of 261.50 in October to dipping close to 194 in February, it’s been a rollercoaster. Right now it’s sitting at 205.10, which is actually closer to the lower end of the recent range. Pretty much the only thing that’s consistent with this stock is volatility.

I’m taking a bullish stance for the next few months, targeting 242.00. The main driver is the upcoming pipeline, especially if we get any more hints about Grand Theft Auto VI or other bigger franchise titles. Historically, TTWO pops whenever there’s concrete news on the flagship games, and there’s still so much pent up hype that I don’t think is priced in at these levels. I also like that management has kept costs in check and avoided some of the big earnings blowups we’ve seen elsewhere in the gaming sector lately.

That said, this isn’t a no brainer. My biggest worry is that after a string of delays, investors are jumpy, and any more slippage on game release dates could nuke sentiment again. The February dip showed how quickly everyone can bail if the narrative sours. So, it’s not exactly a sleep well at night position.

In the near term, I’m watching for investor day in a few weeks as a possible spark. If we get a real update on the title schedule or new guidance, that’s the kind of thing that can move this back above 230 in a hurry. Not a stock to diamond hand forever, but from here I’m looking for 242.00 within the next several months barring another major rug pull on launches.