If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

THQ consolidates stock in NASDAQ delisting dodge

THQ announced a 10-1 reverse stock-split today, a move designed to keep its share price above $1 and avoid being delisted from the NASDAQ.

The trick will reduce the amount of THQ shares from 68.5 million to 6.9 million.

THQ said in its statement today that the move is specifically designed to bring its share price above $1. As reported in January, THQ will be dropped from the NASDAQ if get its value above the threshold before July 23.

The publisher was threatened with the action as its share price fell below $1 and stayed there for more than 30 consecutive days.

THQ has had a difficult year, having seen Danny Bilson leaving the company, mass firings and Jason Rubin take over as president.

Sign in and unlock a world of features

Get access to commenting, homepage personalisation, newsletters, and more!

Related topics
About the Author
Patrick Garratt avatar

Patrick Garratt

Founder & Publisher (Former)

Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

Comments