News

Mad Catz Warned to Increase Share Price or Face Delisting from NYSE

Things have not been going well for MadCatz in recent years, which is a bloody shame as they’ve made some pretty fantastic peripherals over the years, and still do for that matter. The main issue is it seems the company just can’t turn over enough profits for its investors and having recently offloaded its Seitek brand to Logitech, it’s still got some hard work ahead to get back to a comfortable level of profit.

Mad Catz is proud to be active on the NYSE, something they mention on all their press releases, but it may not be holding that claim for long. The company has been issued a warning that if it doesn’t increase the share price in the next six months, it would run the risk of being delisted from the NYSE.

MCZ stock is sitting at just 0.15 a share, which is really not good for any trading business. Most of this comes from the financial disaster that was the deal with Rock Band 4 creator Harmonix. They lost around $11m and had to lose 37% of their staff.

They’re going to have to make some big sacrifices while doubling down on pushing retail sales of the stock they have, or the business vultures will be looking to pick off what’s left like Logitech did with Saitek. Personally, I hope they recover, I love the products and their crazy designs, so fingers crossed this next few months brings them a stroke of good luck!

Peter Donnell

As a child still in my 30's (but not for long), I spend my day combining my love of music and movies with a life-long passion for gaming, from arcade classics and retro consoles to the latest high-end PC and console games. So it's no wonder I write about tech and test the latest hardware while I enjoy my hobbies!

Disqus Comments Loading...

Recent Posts

PHILIPS Evnia 27M2C5501 180Hz QHD FreeSync Gaming Monitor Review

Philips is well known for its monitors, but its Evnia series stands as the jewel…

29 mins ago

MSI Introduces New NVIDIA MGX Servers, Featuring Intel Xeon 6 and New Server Boards

Alongside AMD servers, MSI showcased its NVIDIA MGX AI servers and Intel Xeon 6 solutions…

16 hours ago

Intel’s Next Generation of Accelerators Will Be Called Jaguar Shores

Intel has its Gaudi 2 accelerators available, and Gaudi 3 will be available soon. But…

18 hours ago

Intel’s Latest Beta GPU Driver Comes With More Issues Than Improvements

Intel has just dropped a brand new update for its Arc GPU graphics drivers, but…

1 day ago

Epomaker Announces the Galaxy 100 Programmable Keyboard

The latest keyboard from Epomaker is here, with the Galaxy 100, a $110 fully customisable…

1 day ago

CORSAIR Launches iCUE LINK LX-R RGB Reverse Fans

Corsair has just announced the LX-R RGB Series, a new line of reverse-flow cooling fans…

1 day ago