yes please raise your damn stock price. bought it at over a dollar along time ago and have been sitting at 50 cent stocks for well over a year
THQ consolidates stock in bid to stay on NASDAQ
By
Eddie Makuch, News Editor
Company's board approves 1-for-10 reverse stock split maneuver in effort to raise per-share value to $1.00 or more before July 23 deadline.
Beleaguered Saints Row publisher THQ is hoping to remain listed on NASDAQ through a maneuver called a reverse stock split, approved by the Agoura Hills, California, company on Friday and announced today. NASDAQ issued THQ a delisting notice in January that threatened the game company's removal from the market if its share value did not rise in 180 days.
THQ's board of directors decided the reverse split stock ratio would stand at 1-for-10, with the move expected to commence on its split-adjusted basis at market opening July 9. As part of the process, every 10 shares of THQ's current common stock will automatically become one. The reverse stock split will reduce the number of THQ shares from about 68.5 million to approximately 6.9 million.
In a statement, THQ explained that the purpose of the reverse split stock is to raise the per-share trading price of its stock to $1.00 or above in an effort to regain compliance with NASDAQ's terms. THQ has until July 23 to boost its value to $1.00 or more for 10 consecutive days. If it is unsuccessful, the stock will be removed from NASDAQ.
At market close on Friday, THQ was trading at $0.62 cents per share.
THQ's reverse split stock is not a guarantee of success. The company said, "There can be no assurance that the reverse split stock will have the desired effect."
THQ recently canceled the Saints Row: The Third expansion Enter the Dominatrix. This content will be folded into the next Saints Row title, and the company expects to take a $20 million hit as a result.
By
Eddie Makuch, News Editor
Eddie Makuch (Mack-ooh) is a News Editor at GameSpot. He works out of the company's Boston office in Somerville, Mass., and loves extra chunky peanut butter.
57 comments
3 Like I love THQ. Red Faction. Saints Row. I just beat Space Marine. Which got me into the series so I bought Dawn of War 2 last night. I will be really sad if THQ can't pull out this funk.
After the 1 for 10 split. The shares are going to go down to $4 soon $3.25 to $3 After a little wait. That's when everyone should do the gamble. Put the sell in some where under $5. My magic 8 ball has been wrong before so don't put you life saving on this. If the shares get down in the $2.74 to $2.78 sell and take the hit. Why was that the first thing that popped in my head when I read this?
@deviant74 I doubt it. I think the share hovers slightly below where it is and after the reverse split it will jump to around $5 and stay around there until news about Darksiders II comes in. Depending on the game's scores and sales, it will go either up or down.
Unfortunately, THQ's future is going to be up in the air until next year when the majority of its games are set to release (Metro: Last Light, South Park The stick of Truth, Saints Row 4, Company of Heroes).
That is unless Patrice Desilets (creative director of Assassin's Creed), who joined the company last year, finally announces what he has been working on.
All I care about is that the subsidiary studios somehow make it through any bankruptcy. This world can use some more kill-off of businesses for the sake of business.
THQ is not really a big third party publisher and it being killed is not good for anyone but the major publishers.
3 Like One thing people forget is the only reason THQ stock tumbled is because they got horrible reviews for Homefront - a game that still sold millions. Also, they cut all their Disney and Nickelodeon based games and uDraw tablet.
So why haven't they recovered? Two reasons: They are restructuring from a kid's and movie based publisher to a hardcore focused publisher (Saints Row, Company of Heroes, Darksiders, Metro Last Light). Second is that Wall Street thinks game companies stock outlook's are dead. The game industry is flat in the eyes of Wall Street. Currently, no video game company's stock meets the average NYSE growth of other stocks in the technology sector (Activision is the closest, but still not quite there.).
In other words, THQ stock tumbled, and not many investors are looking hard at video game companies' stocks ergo no one picked them up when they were down.
However, the only big room for growth at the moment is Majestco (COOL), Gravity (GRVY), and Nintendo (NTDOY) but only because the first two are at low prices and have good business models, and Nintendo has the WiiU coming out. THQ is the only other stock that can grow big time in video games but only because they currently are at rock bottom so you can pick up their stock on the cheap.
4 Like THQ produces poor products. This is what happens when you don't push your developers to become more creative, and care more about the products they make. We as gamers have been receiving broken WWE games for WAAAY too long. They screwed us long time Saints Row fans over with SR3 & it's horrid story, and milking DLC. Their key franchises have not been treated with respect or care. Therefore we as gamers stop supporting the BS. I hope they fold, and these franchises can go somewhere else. Just don't send them to EA, as they are worse.
2 Like @CeZar_87 Saints row 3 was AMAIZNG. I clocked 30 hours in that game in 4 days. Where do you want them to go. EA is worse.... of course they are. Beucase they are bigger. So is activision. THQ is one of the last decent publishers that still tries new things. what ever dude.
um saints row 3 < saints row 1&2. Dawn of war 1 > Dawn of war 2. and dow 2's expansions have made it increasingly worse.
many folks werent happy with coh either, altho i will say red faction guerrilla was a gem. Overall tho they havent even been putting up a level of quality that they used to, much less breaking much new ground.
3 Like THQ stock (THQI) is currently the most undervalued stock on the market. They have cut all their kiddie games and movie licensed games so they can concentrate on their core titles like Darksiders, Company of Heroes, Homefront, Metro, and Saints Row.
Usually a reverse split is a bad thing, but in this case it has a specific purpose - to keep the stock high enough in value to avoid being delisted until its line up of games starts shipping in the fall and winter.
That said, THQ was trading at over $9 less than a year ago, and if it bounces back then anyone who invested now would cash out big later.
1 Like saint's row the third is one of my favorite games, heres hoping they pull out of this
6 Like this company must have really bad management. They make good games and lately are always on the brink of folding.
6 Like I hope this goes well for them, they're one of the few old school publishers I still have some sort of respect for.
@MightyEzekiel Its a shame they decided that they weren't interested in making another one, which is why the lead designer Arthur Bruno decided to make Grim Dawn instead (which is being finished off with Kickstarter funding). Titan Quest did make them a tidy profit at the time.
Just another company going down. Showing that making games cost alot to make also too much and 3 poor selling games will cripple the company.
3 Like Hey guys got $1 to spare we can all chip in and THQ can be the first company ever to be owned by the gamer's.
4 Like @Cruisemissile You first. Put your life savings in there and message me about your progress in a week. If all is well I might chip in a couple bucks.
Thq tried 2 b 1 of the big boys & they just ain't they should've stayed midcard like RockStar
your an moron..... you do know thq has some of the highest rated games ever right,like comapny of heroes for example is the highest rated stategy game of all time beating out starcraft,warcraft and empire total ware.and dawn of wich has sold million upon millions of copies. the porblem is the focused on BS elmo games and it drove them into the ground. but now there president (or what ever they call him) has been fired and now ex naughty dog pres is runing it.
1 Like @Son_of_Bmore No it is the opposite. They tired to get by on movie licenses and kid's games, not to mention failed devices like uDraw.
Now that they cut all that out of their line up and are focused on the good core games in their line up (Saints Row, Darksiders II, Company of Heroes, Homefront 2, ect.) they have a chance. Problem is people are scared to put their money in a company that is threatening to get delisted, even though less than a year ago it was trading stock at over $9.
@SHOTTA427 It may, but it wouldn't be out in time before THQ would be delisted. Darksiders is August release (probably) and THQ was going to be delisted this month if they did not do the reverse split.
We may be seeing the end of THQ. And that means no Metro: Last Light unless they find someone else to fund it.
1 Like @AuronAXE It looks bad but THQ is not going anywhere despite what the gaming media keeps whispering. They have currently picked up to many reputable people that they could not of have if they were going to disappear. Jason Rubin, who was the co-founder of Naughty Dog, currently took over as president and he certainly would not of done so had he thought the company was going to meet its demise.
It might b the end of Thq but u know EA or someone will buy the rights 2 those IP's & mayb even the company it self
2 Like Ever wanted to own a gaming company? Well, at that price per share...it's not too far off from becoming a possible reality O.o
2 Like 10-to-1 reverse split? Yikes!
This may backfire on them. I know they must have alerted their stockholders about this, but if one of my stocks did a reverse split, I'd sell that puppy so fast it'd make your dividend spin.
@PixelAddict A reverse stock split is a bad thing most of the time, but not always. Sometimes *small* companies do it to turn off stupid investors from picking up a stock. For example, if their shares are 30 dollars and they want to purge their stock of teens, budget investors, and idiots (oh God 300 is a lot hurrrrrr) then they can do a 1 for 10.
@okassar In this case it isn't so bad because the purpose of the reverse split is evident - they want to keep the stock above $1 until their fall and winter line up come out. Until they put out games their stock price will just flounder. This buys them that time until their games are due to hit shelves.
They lie to thier consumers ,most of the things they advertise about thier game fail to show up. They deliver broken games with broken online , and never bother fix them after they took the consumers money , thier customer service is horrible . Go look at the forums .
Thq never reply to threads asking for fixes and deletes them sometimes and respond to the ones that are either praising them or asking them about thier (broken) DLC . Many devs that work under THQ are great (except yukes) but THQ are greedy and thier the first company to fall becuase of that .Capcom will follow sooner.
Hope they just go away .
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