THQ No Longer In Danger Of NASDAQ Delisting, For Now
Posted on Tuesday, July 24 @ 13:37:00 Eastern by Nicholas Tan
NASDAQ has sent notification to THQ that the company is now in compliance with the minimum bid price rule, which means that they won't be delisted from NASDAQ.
More specifically, THQ has closed at a minimum of $1.00 per share for 10 consecutive business days, mainly by doing a 10-to-one reverse stock split which at the time of the approved action meant that their 70 million stock units valued at $0.62 turned into 7 million stock units valued at $6.20.
THQ has recently assigned Jason Rubin as the new president and Ron Moravek as Executive Vice President of Production. Hopefully, their upcoming game Darksiders 2, released on August 14, will see a return to THQ's better days.
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