It seems that THQ’s troubles keep mounting up! The publisher has received a warning today that they will be delisted from the Nasdaq stock exchange. Their stock has been trading below the required minimum of $1 (trading at $0.70 as of 31/01/2012) for over a month now.
THQ has until the 23rd of July this year to meet this requirement and trade it’s stock at more that $1 for 10 consecutive business days. If THQ fail to comply to this – they face being delisted (much like Atari back in early May of 2008 and Midway in February 2009)
THQ are setting off a series of redundancies to help maintain the company. They are also expected to explain their financial issues during an investor call this Thursday, February 2.
But it’s not all doom and gloom folks! Majesco (famous for the Cooking Mama franchise) have been in THQ’s position TWICE before and bought it back from the brink.