THQ Warned, May Be Removed From The NASDAQ Exchange
THQ isn't doing so hot these days. First came the rumor that their entire 2012 slate was canceled (which turned out untrue), then came layoffs and ex-employees blasting the company for poor decisions.
Now, as THQ races to restructure and refocus their business on their "core franchises," they face another issue: today, the publisher has confirmed that it has received a warning from the NASDAQ global stock exchange. Basically, if the company doesn't post some gains, THQ will be removed from the exchange. They can appeal the decision if they so choose, but their primary goal right now needs to be the increase of their stock price...which is kinda low.
THQ's stock has been below $1 for 30 consecutive days, which prompted the warning. Right now, if you're brave, you can snag one share of THQ for only $.70. The company will have to get back to $1 or higher, and they'll have to keep it above that mark for ten consecutive days before July 23, 2012. This isn't the first time a game publisher has faced removal from the public stock exchange; Atari and Majesco were warned twice.
Well, Saints Row: The Third did very well, so maybe that can save them. They have other promising titles on the horizon as well, don't they?
1/31/2012 10:29:57 AM Ben Dutka