THQ Dodges Delisting

Andy Chalk

One Flag, One Fleet, One Cat
Nov 12, 2002
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THQ Dodges Delisting


THQ's reverse stock split is going to keep the company on the Nasdaq.

It's mostly good news for struggling publisher THQ, which on July 9 implemented a "reverse stock split [http://www.escapistmagazine.com/news/view/118220-THQ-Confirms-Reverse-Stock-Split]," converting every ten shares of stock in the company to one and increasingly their value accordingly. The move came following a warning that the company could be removed from the Nasdaq stock exchange if it didn't get its share price above the one dollar mark and keep it there for a minimum of five consecutive days; at the time, THQ was trading at around the 60 cent mark.

The reverse split was made, the stock price shot up to around $5.80, the Nasdaq is happy and now THQ has made it official, albeit with very little pomp and circumstance. "THQ Inc. today announced that it has received notification from Nasdaq that it has regained compliance with the minimum bid price rule for continued listing on The Nasdaq Global Select Market because the bid price of its common stock has closed at $1.00 per share or greater for at least 10 consecutive business days," the company said in a single-line news release.

That's good news, but it's not all good news. The bad news is that since peaking at $5.80 on the reverse split, THQ's share price has begun to slide again, going as low as $4.94 on July 17, less than two weeks later. It's bounced a bit since and currently (at least as current as my "I'm not paying for this" stock quotes get) sits at just a hair over five dollars , and while stocks naturally bounce up and down over the course of a day, a week or a month, my untrained eye detects a pronounced downward trend in the price. With a ten-to-one reverse split already on the books, another slide below the one dollar mark means there won't be much left to do but set the whole thing on fire and catch a plane to Barbados.


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Rainboq

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Nov 19, 2009
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Its really sad to see THQ in this state of affairs, if they tank, so many great developers will be set adrift...
 

Scrustle

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Well that was disappointing. I got all the way through the article thinking "Yay! THQ are bouncing back!" and then the last paragraph put a downer on everything. Looks like things are still getting worse. Did you really just want to create hope just to destroy it, you sick sick bastard!?
 

AJax_21

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May 6, 2011
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I have a feeling that Darksiders 2 and the South Park RPG might help them quite a bit this year. For 2013, they have Company of Heroes 2, Metro Last Light, Saint's Row 4 and Possibly Dawn of War 3. There's no way these guys are going under with all these numerous promising games under their belts.

Stay strong THQ, you're still one of my favorite publishers despite some of your shitty practices.
 

Clearing the Eye

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An ex of mine pirated Saints Row the Third after I told them how much fun I was having with it. Yet another reason for me to despise them now :/
 

NLS

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Jan 7, 2010
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Clearing the Eye said:
An ex of mine pirated Saints Row the Third after I told them how much fun I was having with it. Yet another reason for me to despise them now :/
Especially since the game went for 75% at least twice during Steam's Summer Sale. I bought myself a copy and convinced a friend to do the same, so that'll keep THQ running for about 5 more minutes.
 

therandombear

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Sep 28, 2009
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Buy stocks now and sell when Dark Siders 2 and Saints Row 4 is released! :p

Man, THQ better not go under. Love the games they publish, not all, but most of them at least.
 

Clearing the Eye

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NLS said:
Clearing the Eye said:
An ex of mine pirated Saints Row the Third after I told them how much fun I was having with it. Yet another reason for me to despise them now :/
Especially since the game went for 75% at least twice during Steam's Summer Sale. I bought myself a copy and convinced a friend to do the same, so that'll keep THQ running for about 5 more minutes.
I never actually finished it. I was having a blast, got up to the part where you take over the mansion and sort of... stopped. I had some DLC or a "buy it from here and get a bonus" or something. I think it was a vehicle. I don't remember. But something just made the game stupid easy--like, mind numbing easy--and I got bored. Once all the humor had worn off and I'd used all the guns, got all the cars, etc., the faceroll difficulty sort of ruined it.

I should reinstall it and try again...
 

Baresark

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Dec 19, 2010
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Scrustle said:
Well that was disappointing. I got all the way through the article thinking "Yay! THQ are bouncing back!" and then the last paragraph put a downer on everything. Looks like things are still getting worse. Did you really just want to create hope just to destroy it, you sick sick bastard!?
Well, they haven't had any games release recently. Really, they need to stay afloat to start releasing some hits. They won't go up until there is some confidence, which can't happen for a game company till they release some games that do well.

OT: Good deal. As one of the few good major publishers around, we should all hope they make it out of this. They have some great games on the horizon.
 

Nouw

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Come on THQ, hang in there; it won't be long before you rise up again with your games that are due like Darksiders 2 and Metro:Last Light. Not to mention Company of Heroes 2!
 

lacktheknack

Je suis joined jewels.
Jan 19, 2009
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A reverse 10-to-1 split?!

I believe that's also known as a "death rattle".

Even so, I'm still considering buying a hundred bucks in shares just in case they recover and skyrocket. I'll be kicking myself if they do and I don't.
 

SmilingWorlock

Knowledge is power.
Oct 22, 2010
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Nouw said:
Come on THQ, hang in there; it won't be long before you rise up again with your games that are due like Darksiders 2 and Metro:Last Light. Not to mention Company of Heroes 2!
Aenir said:
I just don't want any of this to screw with Metro: Last Light.
Why don't you buy their stocks then? ^^ I understand that is how that works.
 

Nouw

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SmilingWorlock said:
Why don't you buy their stocks then? ^^ I understand that is how that works.
Considering my knowledge of what stocks are and how they work are close to none and I am a fourteen year-old boy, I'm going to have to pass. Now that I look at it, my post does look a little selfish. My post was to meant to convey the message that it won't be soon before THQ can recover, not that I don't care about THQ's finacial troubles and only my gaming fix.