THQ stock woes painted a grim picture last month, with crashing share prices, the departure of its CFO and other equally as problematic issues. However, since launching its generous humble bundle package, the company’s stick has spiked, and suggests that disaster has – for the time being – been averted.
The bundle – which raised $2 million in its first 16 hours on sale – included Darksiders, Company of Heroes, Company of Heroes: Opposing Fronts, Company of Heroes: Tales of Valor, Metro 2033, Red Faction: Armageddon and Saints Row: The Third if you paid over the average price.
GI.biz reports that THQ’s shares sat at $1.07 on November 28th, and shot to $1.60 when the bundle released on the 29th – an increase of 37.96%.
By close of play Friday, shares were back down to $1.45 although it’s a marked improvement for the flagging publisher. The bundle has amassed $3 million with 576117 copies sold, and has even seen contributions from THQ execs Brian Farrell and Jason Rubin.
The move underlines the attraction to Humble Bundle deals and the ‘pay what you like’ approach to selling games digitally. This approach could help THQ find a new plan of attack to turn its fortunes around.
What’s your take on THQs situation? Would steps to embrace the PC, indie or bundle market help? Let us know below.