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Take-Two Interactive (TTWO) just got a demand signal that most companies would rush to celebrate.Instead, management slammed on the brakes.CEO Strauss Zelnick said pre-orders for Grand Theft Auto VI have reached levels neither Take-Two nor the broader videogame industry has seen before, Reuters reported. Investors responded by sending Take-Two shares more than 4% higher.But Take-Two kept its net bookings prediction for fiscal 2027 at $8 billion to $8.2 billion, Reuters reported, below the $8.86 billion projected by experts polled by LSEG.For stockholders, it is the contradiction that counts.Pre-orders for GTA VI launched on June 25, the company said, and the game will debut on Nov. 19 for $79.99 on PlayStation 5 and Xbox Series X|S. Rockstar estimates the entire Grand Theft Auto brand has sold more than 470 million units, with GTA V alone close to 230 million units since its introduction in 2013.So a blockbuster debut is all but certain.The more difficult question is what happens after millions of people buy the game.Take-Two already derives the bulk of its business through recurrent user expenditure, rather than one-off game purchases. This means the longer-term value of GTA VI could be less about opening-week sales and more about Rockstar’s ability to replicate the lasting economics of GTA Online.“We haven’t sold one unit yet,” Zelnick said, explaining why Take-Two refused to raise its outlook, despite unprecedented pre-orders, Reuters noted.GTA VI has already created extraordinary expectationsTake-Two’s first-quarter numbers were fairly average compared to the expectations leading into November.Net bookings slipped 3% year over year to $1.39 billion, slightly above the company’s guidance. Revenue increased to $1.53 billion from $1.50 billion, while Take-Two posted a $34.1 million GAAP net loss, compared with an $11.9 million loss a year earlier.None of those numbers explains why investors bid the stock up.GTA VI does.Rockstar opened pre-orders with a standard edition priced at $79.99 and an Ultimate Edition at $99.99. The game is set to launch on Nov. 19 with digital preloads available Nov. 12.The early demand has been “unprecedented,” but Zelnick also pointed out that pre-orders can still be canceled. Management is not assuming that every reservation is a sale but remains cautiously optimistic, Investing.com noted.That restraint is unusual because GTA VI is one of the very few entertainment releases that investors already expect to earn billions of dollars.Related: Take-Two’s real GTA 6 jackpot may not be the game itselfThat’s why the precedent accounts.GTA V has sold close to 230 million units over a decade-plus, and GTA Online became a recurring cash machine long after the original game first launched. Take-Two said year-over-year recurring consumer expenditure on GTA Online was still up 5% in its fiscal fourth quarter, helped by ongoing engagement with new content.The franchise, in economic terms, has two lifetimes. Then there’s the launch — and all the other stuff players buy after that.That last part could be the difference between GTA VI being a huge video game and becoming a game-changer in Take-Two’s earnings power.Take-Two’s most important GTA VI number may come after launchThe most telling number in Take-Two’s latest financial release wasn’t the $1.39 billion in quarterly bookings.It was 84%.Recurring consumer spending represented 84% of Take-Two’s net bookings and GAAP revenue in the fiscal first quarter. That category includes virtual currency, downloadable content, in-game purchases, and advertising.That is, Take-Two is already a firm that keeps spending and spending.No wonder investors are so obsessed with the inevitable online component of GTA VI.More Tech:ServiceNow’s quiet $1B cybersecurity boomA European rival to SpaceX is chasing a $2B valuationSK Hynix denies Intel Ohio fab deal, but the market didn’t careMoffettNathanson analyst Clay Griffin told Reuters that investors largely assume GTA VI itself will perform well. The bigger issue is how GTA Online evolves and how long Take-Two can monetize players after launch.GTA V demonstrated how effective that approach could be.GTA Online has continued to generate recurrent consumer expenditure more than a decade later, while Take-Two continues to sell the 2013 edition. Management also stated that GTA+ subscriptions are increasing year over year.If GTA VI can achieve that durability with a significantly larger launch player base, the value of the series might endure well beyond fiscal 2027.However, Take-Two has not yet released a full GTA VI online plan.That missing ingredient could explain why management is unwilling to turn strong pre-order enthusiasm into more aggressive financial projections.

GTA Online has continued to generate recurrent consumer expenditure more than a decade later.SOPA Images / Getty Images

Take-Two investors are paying for a launch that still has to happenTake-Two still forecasts net bookings of $8 billion to $8.2 billion for fiscal 2027, a big increase from the prior year, mostly driven by the November launch of GTA VI. The company also expects operating cash flow to exceed $1 billion this year.The near-term picture is less stellar.Take-Two forecasts net bookings between $1.62 billion and $1.67 billion in its fiscal second quarter, which ends Sept. 30. The projection came in below Wall Street expectations, with worse mobile trends and a limited release slate weighing on the firm before the arrival of GTA VI.That’s a nice sort of arrangement.Two companies one date away seems like Take-Two.Investors envision a publisher with minor booking drops, ongoing losses, and softer portions of its mobile portfolio ahead of Nov. 19.They predict one of the greatest entertainment debuts ever after Nov. 19.What Take-Two investors should watchPre-order conversion: Extraordinary reservations matter only when they become actual sales.GTA VI launch timing: Take-Two’s outlook assumes the game arrives Nov. 19 as scheduled.Online strategy: GTA VI’s long-term economics could depend heavily on how Rockstar develops multiplayer and recurring spending.Recurrent consumer spending: Already 84% of quarterly bookings, making post-launch monetization critical.Full-year guidance: Take-Two is sticking to $8 billion to $8.2 billion, despite unusually strong pre-order demand.The rest of the portfolio: Weakness outside GTA could matter more if the blockbuster launch slips or underperforms.The bullish case is plain to see. Grand Theft Auto is one of the few entertainment properties ever to have such enduring power. GTA V has been pumping money into Take-Two for more than 13 years, and the franchise as a whole has sold over 470 million units.The risk is just as evident, given the huge expectations. In essence, Take-Two must pull off a record launch, create a recurrent online economy, and keep people spending for years.The first phase could be possible with record pre-orders.Management’s hesitation to raise guidance reminds us that the best part of the GTA VI story is still ahead.The game must convert hype to sales. Then, Take-Two has to make that a decade-long business.Related: Wedbush sends bold message on Take-Two stock after earnings

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealThe sun is a welcome sight come summer, particularly after such an overcast, frigid winter, but there’s only so much your body can handle sometimes. Not only is it not smart to expose your skin to constant rays, especially if you’re not wearing sunscreen, but when the heat really gets brutal, scoring time in the shade is the much-needed respite from those summer heatwaves. The right umbrella not only offers you shade to keep you cool and dry, but it keeps you from constant sun exposure when you’re enjoying some time outdoors on the patio or deck. These days, though, patio umbrellas don’t just provide covering. Many newer models have 360-degree adjustable angles to pivot as the sun moves and provide more shade, as well as have additional features like lights, cupholders, and wind-vents. With those extra perks, many models often have an expensive price tag, but if you know where to look and start shopping early, you can get quality patio furniture for a fraction of the cost. Walmart’s bestselling Ainfox LED Patio Umbrella is on sale for $57. And if you’re looking for something a bit smaller or in a different style, you’ll be thrilled to know that this umbrella comes in multiple colors, tier designs, and heights ranging from 7.5 feet to 13 feet — most are on sale right now — so you can find the one that best suits your needs if this LED 10-footer isn’t quite right for you. Ainfox LED Patio Umbrella, $57 (was $131) at Walmart

Courtesy of Walmart

Shop at WalmartWhy do shoppers love it?Patio umbrellas, for the most part, look pretty similar, but it’s the details and extra accessories that differentiate between the many models available on the market right now. The Ainfox one, which measures in at 10-feet tall, has a sturdy aluminum pole with reinforced zinc at its center to properly support the umbrella. It uses a special rib construction where the pole is reinforced with ribs, either internally or externally, to increase rigidity, structural strength, and durability so your umbrella doesn’t go sailing at the slightest hint of a breeze. The umbrella portion, which is perfect for providing shade in your yard, over parts of your pool, garden, deck, backyard, or porch, has a single wind vented canopy that’s made with UV-resistant, fade-resistant, water-resistant polyester fabric that allows heat and wind to escape preventing excessive movement or warmth underneath it. To put it up, the umbrella pole has a built-in crank that’s pulley-assisted to easily open and close the umbrella. That’s also where you’ll find a push button that allows you to freely adjust the angle of the umbrella and then lock it in place.And since it’s not quite enough for an umbrella to offer shade these days, this one has the extra bonus of including LED strips that provide light when the sun sets and it gets dark out. The eight light strips, which turn off and on with a single button built into the pole, are solar powered by the detachable solar panel. Five to six hours “charging” in the sun gives you up to five hours of light before the solar panel needs another charge. It’s the perfect way to add some subtle light to your outdoor area without it being overly harsh or bright. Related: Walmart is selling an all-weather 3-piece patio set for just $67The umbrella offers about 9.55 feet of coverage underneath in total when fully opened up. An umbrella stand is not included, although the brand is selling one for 43% off and only $29 right now. What to expect from a $57 umbrella: Pros and consProsWeather-resistant construction: The umbrella is made with zinc reinforced aluminum and UV-resistant, fade-resistant, water-resistant polyester fabric.Versatile: The umbrella offers shade and protects you from the sun during the day, and the LED light strips provide subtle lighting when it gets dark out. Easy-to-maneuver: The pulley-assisted built-in crank and angle adjustment button make it easy to maneuver and set the umbrella to your liking. ConsAdditional pieces required: An umbrella stand is highly recommended, but not included in your purchase. Shoppers are impressed with the quality of the umbrella’s fabric, the effective shade coverage it gives off, and how easy it is to adjust its positioning. They find it to be very well made and sturdy, and appreciate how well it holds up even in windy conditions. “Sturdy enough to handle the sun and rain without throwing a tantrum,” one shopper said. “Keeps you cool without breaking the bank. An umbrella offers you both protection and a place to escape the heat when it gets really bad come July and August, and the Ainfox LED Patio Umbrella goes the extra mile by also offering you light once the sun goes down. Take advantage of the great deals and score this 10-footer for only $57.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealIf there’s one luxury item you really can’t go wrong with, it’s a Citizen watch. The highly-respected Japanese watchmaker has been helping the world tell time for over a century, and they look to do so for the next century as well. If you’ve been hoping to find the perfect luxury watch that won’t cost a fortune, then today might be your lucky day. Amazon is currently selling a Citizen Eco-Drive watch for less than $200, and we think this deal looks like a million bucks.The Citizen Dress Classic Eco-Drive Luxury Watch is available for $176. Amazon previously sold it for as much as $375, so you’re getting quite a deal. Because we’re not sure exactly why the price was reduced by so much, there’s really no telling how long it may last. Citizen Dress Classic Eco-Drive Luxury Watch, $176 at Amazon

Courtesy of Amazon

Shop at AmazonWhy do shoppers love it?This is one of the best looking everyday watches we’ve seen in a while. Although it’s listed as a dress watch, it fits in almost anywhere. The almost pearlescent cream-colored dial is stunning, and highly legible. It has a textured sunburst design in the center, surrounded by a subtle concentric circle around the outside of the dial. That circle houses the silver-toned applied hour indices. At the 12 o’clock position is a day window and mirroring it at 6 o’clock is a nicely-finished date window. The bracelet and case are made of beautiful and robust 316L stainless steel. It’s rustproof and corrosion-resistant, making this a great option to have on your wrist for almost any occasion. The case has a diameter of 40 millimeters, falling into that goldilocks zone of just the right size for both formal and casual wear. The watch also has a moderate water resistance of 30 meters. That means you can feel confident washing dishes or strolling in light rain without fearing that you might damage it.On the inside, the watch is a technological marvel. It keeps highly-accurate time, thanks to a Japanese solar-powered Eco-Drive movement. The movement uses small hidden solar panels embedded under the dial to collect energy from the sun. That energy is then dispersed throughout the day to the handset, to keep your watch ticking day and night. The quartz-regulated movement never requires a battery replacement for the life of the watch, and it even keeps more accurate time than most mechanical Swiss luxury watches.Related: Citizen’s $137 luxury watch has 100 meters of water resistanceDetails to knowCase diameter: 40 millimeters.Material: 316L stainless steel.Water resistance: 30 meters.Movement: Solar-powered Eco-Drive movement.Amazon shoppers could not say enough positive things about this watch. One buyer called it a “quality watch,” before adding that it was “great value for the money. Classic, yet everyday appropriate. Keeps great time. Highly recommend.”Shop more deals Citizen Promaster Sea Eco-Drive Dive Watch, $290 (was $495) at AmazonBulova Marine Star Series B Watch, $314 (was $595) at AmazonThe Citizen Dress Classic Eco-Drive Luxury Watch could be your very first foray into the world of high-end timepieces. At just $176, it might be the perfect way to look the part, without parting with a lot of money as well.