PS3 News: THQ Reverse Stock Split Gets Them Back In NASDAQ Compliance - PS3 News

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THQ Reverse Stock Split Gets Them Back In NASDAQ Compliance

Back to good. For now.

Stock exchange NASDAQ has notified publisher THQ that they're back in compliance after maintaining a closing stock price of over $1 for 10 consecutive business days.

The company managed this by conducting a ten-to-one reverse stock split, which consolidated their 70 million shares to 7 million, thereby inflating the stock price. Currently, THQ's market capitalization sits at $35.4 million and its stock is trading at around $5.16 as of today. The company has had to scramble to keep things going relatively normally, and their hope is that future AAA titles really hit big. For instance, Darksiders II, perhaps their most important game, is scheduled to launch in only a few weeks (August 14).

CEO Brian Farrell is on the record saying they need to focus on "great products" in both the short- and long-term. The good news, however, is that the "heavy lifting is done."

Tags: thq, nasdaq, thq stock, gaming industry

7/24/2012 9:22:58 AM Ben Dutka

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Comments (5 posts)

WorldEndsWithMe
Tuesday, July 24, 2012 @ 11:18:03 AM
Reply

Good for them, but they are going to have to do better than just Darksiders II to get back in the black. Unless something happens I don't know if they'll make it. Homefront 2 could still be a ways off and inSane was probably doomed from the start.

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___________
Wednesday, July 25, 2012 @ 5:23:18 AM

dude, you make it sound like they have 2 games in development!
dont forget saints row 4 will probably be out next year and thats always been a good seller for them, not to mention metro last light and the witcher 3 not to mention their new IP forgot the name.
THQ has PLENTY in development to keep them afloat.
they just need to stop wasting millions on crappy license games like the always crappy WWE!

THQ got into this position by spending low on big AAA games, and spending high on crap games.
as long as they avoid that from now on they should be fine.
but, well, there still milking WWE to kingdom come so im doubtful if they can do even that!
i hope so simply because there releasing some of the best games out there!
but there not exactly filling me with confidence.

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firesoul453
Tuesday, July 24, 2012 @ 3:31:25 PM
Reply

Good!

It seems that the past couple of years they finally learned that we want high quality games and are on the right track to delivering!
I want them around

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___________
Wednesday, July 25, 2012 @ 5:25:17 AM
Reply

sweet!
now all they need to do is stop wasting their money on crappy license games!
THQ got into this mess in the first place with crap expensive licensed games like WWE.
so as long as they stay away from that old bad habit they should be fine!
oh, and bring back red faction we want, no, NEED, a new red faction guerrilla!!!!!!!!!!!!
closest game to BFBC, and sadly DICE are too busy milking battlefield so it looks like a long time till we ever see that again!

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Nynja
Wednesday, July 25, 2012 @ 12:39:00 PM
Reply

Company of Heroes 2. That will help stop the flooding.

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