US company taken off stock ratings after failure to meet demands
Atari Inc has been delisted from the Nasdaq share rankings in the US.
Nasdaq previously told the firm that it had to bring its market value up to $15 million or more for ten consecutive business days before March 20th this year – but the publisher was unable to meet the requirement.
Nasdaq will suspend trading of Atari's stock from today (Friday, May 9).
Atari said that it intends to request a review of the decision from the Nasdaq Listing and Hearing Review Council.
In the interim, Atari shares will trade on the Pink Sheets service, maintained by Pink Sheets LLC.
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Atari said that it doesn't believe the delisting will affect the acquisition of the firm by French majority shareholder Infogrames.
Comments
Why
It just shows the importance of management. Atari should have been up there at the top.
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