THQ announced today that its shareholders and board of directors have approved a reverse split of the company’s common stock. Beginning July 9th, THQ stock will be traded at a 1-for-10 ratio, meaning that every 10 shares of company stock will be converted into one share. The process is an effort by THQ to prevent being delisted by NASDAQ, which requires companies to maintain a share price of $1.00 or higher for 10 consecutive days.
What does this mean for THQ’s future? Simply put, it’s a last-ditch effort to maintain the company’s value, and even THQ isn’t positive it will be a permanent solution.
I seriously hope THQ doesn’t go down the tubes. They’re fighting so hard, but this recession is drilling into the company.
Posted 1 year ago
#THQ #video games #gaming