THQ threatened with stock exchange delisting
Laurence Howe / 13 years ago
Troubled publisher THQ faces possible de-listing from the Nasdaq stock exchange, it’s been warned.
MCVreports that the Saints Row company’s shares have failed to top $1 for 30 consecutive days, which is the minimum level required for a continued listing.THQ has been given until July 23 (180 days) to boost its share price and must maintain a $1+ level for ten consecutive business days.
The firm recently announced it’s exiting the kids’ licensed games category to focus on its core game franchises and “develop digital initiatives”.
THQ’s “updated business strategy” was announced shortly after the publisher denied rumours that it had cancelled multiple projects and was positioning itself for sale.
Last month, the company cut 30 staff from its family-focused Play THQ division, the Californian development team responsible for the publisher’s uDraw line of products.
Source: CVG
