Troubled publisher THQ has been warned that it faces a possible de-listing from the Nasdaq stock exchange.
The threat comes because the company’s shares have failed to top the $1 range for 30 consecutive days. That’s the minimum level required for a continued listing.
THQ has been given 180 days (until July 23rd) to address the issue and boost its share price. It must maintain a $1+ level for ten consecutive business days.
The company has failed to trade above $1 since the beginning of December.
If it fails to reach this goal it will be delisted, though THQ will maintain the right to appeal against such a move. Nasdaq also has it within its power to maintain THQ’s listing status even if it misses these goals, though the publisher will have to convince why it should make such a decision.
Last month THQ moved to deny wildly spreading rumours that it had cancelled its entire 2014 console release slate.
Last week the publisher revealed its latest strategic realignment, this time ditching kids and licensed titles in favour of core outings and an increased digital offering.