THQ has announced that it has met the minimum share price to remain listed on the NASDAQ stock market. In fitting with NASDAQ’s minimum price, THQ stock has held a value above $1.00 per share for more than 10 consecutive business days, allowing it to stay on the market.
Earlier this month, THQ announced a reverse split of its stock, meaning that every 10 shares of company stock was converted into one share. This move cut the number of shares from 68.5 million to 6.9 million in an effort to maintain NASDAQ’s minimum $1.00 price.
Meeting NASDAQ’s minimum is good news for THQ, though it’s only the beginning of the company’s road to recovery. THQ has been in tough financial shape all year, following the failure of its uDraw tablets and subsequent lawsuits. THQ announced yesterday that Ron Moravek is its new executive vice president of production, and earlier this week it consolidated its quality assurance facilities.
THQ has several big games planned for 2013. For more about THQ moving forward, be sure to read our interview with Rubin as well as how THQ is protecting its future.
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