THQ Inc. sorely needs a powerup. The game company faces delisting from Nasdaq if it can’t raise its common stock price above a dollar for at least 10 days in a row by July 23, as documented by the Security and Exchange Commission.
THQ was flying high about five years ago, with a stock price of about $35, when its strong relationships with Pixar and Nickelodeon resulted in kid-favorite games based on Cars, The Incredibles and Spongebob Spongepants.
With plummeting sales and negative critical response to its licensed property games since then, THQ recently announced it was no longer pursuing that business strategy in order to concentrate its resources on key franchises like Company of Heroes, Saints Row and the upcoming UFC Undisputed 3.
Related links:
SEC Form 8k – http://biz.yahoo.com/e/120131/thqi8-k.html
Forbes – THQ Faces Delisting from NASDAQ
Gamespot – THQ issued NASDAQ delisting notice
Gamasutra – THQ may be delisted from Nasdaq in July
Joystiq – THQ receives stock delisting notice
