THQ gets stock delisting notice

Nasdaq has given THQ a stock delisting notice, giving the company 180 days to rise and maintain its stock at or above $1 per share.

13

Troubles continue to mount for THQ. On the heels of studio closures and layoffs, the publisher has now been given a stock delisting notice. If it can't get its stock prices in order in 180 days, it will be pulled from the Nasdaq Global Market.

The notice (via Joystiq) claims that THQ's common stock has closed below the minimum of $1 for 30 consecutive business days. It has until July 23, 2012 to close at or above $1 per share for 10 consecutive business days. We've seen the Nasdaq follow up on this before in the video game industry, when Atari was pulled. A delisting doesn't necessarily spell doom for a company, but it certainly doesn't bode well.

THQ is hoping to turn its fortunes around by cutting kids licensed properties, and renewing its focus on core games. An investor call scheduled for Thursday will sell its case to potential buyers.

Editor-In-Chief
Filed Under
From The Chatty
  • reply
    January 31, 2012 7:00 AM

    Steve Watts posted a new article, THQ gets stock delisting notice.

    Nasdaq has given THQ a stock delisting notice, giving the company 180 days to rise and maintain its stock at or above $1 per share.

    • reply
      January 31, 2012 7:01 AM

      If I had some free cash, I'd be buying right now. I reckon they'll rise to at least a few bucks sometime this year.

      • reply
        January 31, 2012 7:27 AM

        Agreed, they've got Darksiders II, Metro: Last Night, and South Park: The Game (which should sell well on franchise alone) coming out this year.

        • reply
          January 31, 2012 7:32 AM

          The new UFC game comes out next month too, which should sell well but I don't know if all of that is enough to help them.

      • reply
        January 31, 2012 8:42 AM

        Well I just picked up 400 shares, so I guess we'll see!

        • reply
          January 31, 2012 7:44 PM

          Do you use something like etrade? I'd like to get my feet wet but not sure whats legit and what's not.

          • reply
            January 31, 2012 8:31 PM

            It's just the leftover Fidelity IRA from a job I only had for a year and a half. I had it all in mutual funds when the market crashed and it went from about $4.5k to $2k. Since then I dumped the mutual funds, bought all the BP stock I could afford when the well caught fire underwater, and it's back up to $4.5k in BP stock. Recently BP gave me another couple hundred bucks for some reason or other, so I just put that into 400 shares of THQI :)

    • reply
      January 31, 2012 7:49 AM

      While I like THQ, I'm more worried about the future of Darksiders. I loved the first game, the second looks great, and I really wanna see what they do with the other horsemen. I'd hate for the franchise to end early.

    • reply
      January 31, 2012 8:14 AM

      BTW just because a stock gets delisted does not mean it will go under.

    • reply
      January 31, 2012 8:19 AM

      how did they sink so low? Haven't they been moderately releasing goodish games lately?

      • reply
        January 31, 2012 8:26 AM

        Not to the same acclaim, number, or consistency as in prior years.

      • reply
        January 31, 2012 9:18 AM

        Rumors all around their recent restructuring (as well as the actual stuff that happened, like de-licensing and layoffs) brought them down hard. And that was after the stock had been in a steady decline over the past couple years.

      • reply
        January 31, 2012 10:07 AM

        Saints Row 3 was great

    • reply
      January 31, 2012 8:50 AM

      Man, I'm really debating throwing some money at this.

    • reply
      January 31, 2012 8:56 AM

      Weren't they a takeover target for Ubisoft or someone a few years ago? You'd think they could pick them up really cheap now.

    • reply
      January 31, 2012 6:00 PM

      Well, thats what they get for not making company of heroes 2 :(

Hello, Meet Lola