THQ Warned of Nasdaq Delisting
It looks like things aren’t looking too good for publisher THQ. The publisher, notably known for having had a rough year with its new (Homefront) and existing (Red Faction) franchises not doing too well is also on the brink of being delisted on the Nasdaq stock exchange.
The company’s stock needs to be above $1.00 for ten consecutive days to remain listed, but at the time of this writing, THQ’s stock has been sitting at a paltry $0.67. Furthermore, the company has been given a deadline of July 23, 2012 to turn things around – otherwise, they will be delisted and that’s not something a multi-million dollar publisher wants to happen.
THQ’s stock, which saw a high of $36.16 per share in April 2007, saw a steady decline until it dropped below the Nasdaq threshold on December 8, 2011.
We’ll post more news on this as it develops.