Monday, July 2, 2012

THQ Plans Reverse Stock Split

Battered videogame developer THQ, which has been suffering from a downturn in its business, said today that it is planning a 1-for-10 reverse stock split, in order to raise its per share trading price so that it will regain compliance with a $1.00 per share, minimum bid price required by the NASDAQ Global Select Market. THQ has been suffering in recent months, having completely cut its efforts to compete in the kids' game segment, announcing multiple layoffs, and most recently delaying its latest Saints Row release--all of which has been reflected in the company's stock price.