THQ Avoids Delisting from NASDAQ

July 24, 2012 -

Publisher THQ has managed to avoid being delisted from the NASDAQ by reaching the minimum market share price before it hit a deadline set by the exchange. The company made the announcement today.

"[THQ] 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," it reported in an update for investors.

At the beginning of July the company announced a reverse stock split to deal with its lagging share prices.

"The purpose of the reverse stock split is to raise the per share trading price of THQ's common stock to regain compliance with the $1 per share minimum bid price requirement for continued listing of THQ's common stock on the NASDAQ Global Select Market," the company said in a press release at that time.

The stock is currently trading at 5.04 at the time of this writing on the NASDAQ.

Source: GII


 
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