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THQ Stock Delisted from NASDAQ, Double Fine Looks into Assets

Ravi Sinha — Mon, 14 Jan 2013 08:25:56 +0000

THQ is finally off the stock exchange, and its stocks will be officially removed from trading on January 22nd, the same day its assets are up for auction.

According to a listing VG247 obtained, “Based on review of information provided by the company, Nasdaq Staff determined that the company no longer qualified for listing on the Exchange pursuant to Listing Rules 5101, 5110(b), and IM-5101-1.

“The company was notified of the Staffs determination on December 19. The Company did not appeal the Staff determination to the Hearings Panel, and the Staff determination to delist the Company became final on December 28.”

Also, it seems that Double Fine Productions has taken an interest in THQ according to Distress Debt Investing, though it could just be an attempt to buy back Costume Quest and Stacking, both titles published by THQ in the past.

The auction happens next week. Any major predictions over who will be in control of THQ’s properties going forward?

Source: GIBiz

Electronic Arts Falls Off the NASDAQ 100 on Christmas Eve

Ravi Sinha — Tue, 18 Dec 2012 06:44:17 +0000

Looks like Santa Claus finally decided to check his naughty list. The NASDAQ exchange, which looks at the 100 largest non-financial stocks, has decided to drop Electornic Arts from its top 100 list from December 24th onwards. The reason hasn’t been explicitly stated, and is in fact quite odd when you consider the measure of success EA has had this year with Medal of Honor: Warfighter and FIFA 13. This is especially so when you look at the companies which are also falling off the index this time around.

Netflix is on its way out, along with Western Digital, Equinix and Liberty Media Corporation (owner of the TV channel Starz). Research in Motion or RIM, responsible for the highly popular business phone Blackberry, will also be off the index, what with the trouble year it’s had.

That makes 10 companies that are off the list this year. And while there are still plenty of gaming companies on the index including Activision, Microsoft and others with stakes in the same like Google and Apple, it must be more than little bizarre that one of the world’s top three publishers is absent.

Source: GIBiz

THQ could be delisted from the NASDAQ

Kartik Mudgal — Tue, 31 Jan 2012 14:14:17 +0000

THQ is going through tough times, their share value has fallen a lot, and is basically under $1 now. Their market capitalisation is insignificant. There have been no reports of takeover yet.

So what could the company do now? They have assured everyone in a recent statement that things are well in the company, but it doesn’t seem to be so.

The latest news is that they have been threatened with a NASDAQ delisting, because their share value is lower than $1.

They have till July 23 to boost their share price above $1, and it seems THQ is capable of doing that, but this must be really bad news for their investors.

“In accordance with Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until July 23, 2012, to regain compliance with the Rule,” reads a Form 8K sent by the company this morning.

“If at any time before July 23, 2012, the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the Rule.

“If compliance with the Rule cannot be demonstrated by July 23, 2012, the Company’s common stock will be subject to delisting from The Nasdaq Global Market.”

THQ can appeal if they get delisted and still trade, but it depends on whether they are allowed to do so, or present a strong case that the share value is temporary and can be strengthened later.

Tell us what you think in the comments section below.