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THQ Faces NASDAQ Delisting
The past few weeks haven't been kind to publisher THQ. The company has been besieged with layoffs, structural reorganization, and persistent rumors that its future is on shaky ground. Now it's facing the possibility that its sagging stock could be delisted on the NASDAQ exchange. After trading below the minimum $1 for 30 days, THQ faces an ultimatum from NASDAQ: its common stock has to trade above $.99 a share for 10 consecutive days over the next 180 days, or it will be delisted.
The disappointing sales of the company's uDraw drawing tablet and other licensed titles has made THQ reevaluate its overall strategy. One way that the publisher thinks it can succeed is by focusing more on core games, including Saints Row. THQ recently announced that the latest installment in the series, Saints Row: The Third, shipped 3.8 million units worldwide.
“THQ will be a more streamlined organization focused only on our strongest franchises,” said Brian Farrell, president and CEO of THQ. “The success of Saints Row: The Third is an example of what our revised strategy and focus can achieve."
One thing's for certain in this uncertain period: THQ's third-quarter 2012 investor call is going to be interesting this Thursday.
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