Beleaguered publisher must trade above $0.99 for ten consecutive days before July 23rd
Share prices at THQ have rallied to $0.67 sparking hope that it may beat the threat of a Nasdaq delisting.
The company was given until July 23rd to turn round its fortunes after shares at the company traded below the $1 threshold for more than 30 days in January.
THQ must trade above the amount for ten consecutive days, although the company can appeal the decision to give it extra time.
Despite hitting an all time low on April 17th, with shares closing $0.45, the embattled publisher’s value has since steadily risen.
THQ recently announced it was confident of its future after sales for the end of the last fiscal year had “exceeded sales estimates”. The company said it now aniticipates it will report non-GAAP sales of between $160 to $170 million, up on prior estimates of $130 to $150 million.
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The better than expected results were put down to strong sales of Saints Row: The Third, which shipped more than four million units, and “higher than expected” digital sales.
The publisher is also pushing ahead with its 17 game rescue plan, which includes the upcoming Darksiders II, South Park: The Game and Homefront 2.
Sorry but your article is no very clear. The 160-170 million revenue is for the quarter and not for the year.
Also, the stock has actually been in the .70's but recently fell back into the .60's. Expect it to rally after the may 15 earnings assuming it doesn't happen sooner (such as next week or the Monday prior).
Agree with your posting Guy.
I personally believe they can overcome the delisting and even make a come back into greatness given they trully get their act together. They have a promising line-up of games expected to be released and have made some great games in the past. Also THQ joining up with GamesWorkshop (warhammer 40k universe) they grab a massive fan following if they can deliver more Warhammer 40k games like Dawn of War 2 (the expansions were cramp in my opinion with the exception fo the first expansion).
Their stock has hit the .70 mark already and once year end reports are in the stock should rally and smash the .99 mark without an issue.
I believe THQ will not fold and their stock price will come out on top in the end.
