VGChartz Pro

After Reverse Stock Split THQ Regains Compliance with Stock Exchange

by William D'Angelo, posted on 24 July 2012 / 2,144 Views

THQ on July 5 went with its plans to do a reverse stock split in order to regain compliance with the Nasdaq stock exchange. Every 10 shares was turned into just one. The stock since than has remained above the $1 minimum for 10 consecutive days in order for the company to not be delisted.

This is the first bit of good news for the troubled publisher. The troubles began in January with the first news that the company may be delisted from the Nasdaq stock exchange. In the beginning of February THQ announced that it will be laying off 240 of its staff, as well as the CEO cutting his salary in half. The company also announced at the same time that it had lost $55.9 million. THQ laid off another 118 employees at the end of March.


Related Articles

3 Comments

usrevenge
usrevenge (on 24 July 2012)

their stock has dropped in price every day since the split. it might not be long now before they are in trouble again. the good news is many of their bigger games will be releasing soon. I have a feeling darksiders 2 will be a decent seller.

  • +3
Heavenly_King
Heavenly_King (on 24 July 2012)

Great work THQ!!!!!

  • +3
Kresnik
Kresnik (on 24 July 2012)

I'm glad this worked, I wouldn't want THQ to go under. They're one of the better publishers in my opinion. Not that they're out of the danger zone yet I suppose with that $55.9 million loss. Good luck!

  • +3