Midway Stock Now Worth Considerably Fewer Pennies

By Nick Breckon, Dec 04, 2008 1:30pm PST Publisher Midway's stock has plummeted almost 40% since Sumner Redstone's sale of the company for an embarrassing $100,000, settling at an all-time low of 23 cents per share.

Friendly investor Mark Thomas purchased Redstone's majority shares of Midway on Monday. Though the publisher is still valued at $21 million, it also carries some $70 million in debt--a fatal figure that could actually be as high as $150 million, according to Variety.

The Mortal Kombat publisher is now in danger of being brutally delisted from the New York Stock Exchange, and must raise its share worth above $1 within six months.

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