Resurgent publisher THQ has successfully fended off the threat of being delisted from the American NASDAQ stock exchange.
The publisher was first warned in January that its place on the stock list was under threat following its failure to trade above $1 – the minimum price required by NASDAQ – for 30 consecutive days.
The company was then given a deadline of 180 days to sort its house out. That deadline passed yesterday.
Earlier this month THQ announced a reverse stock split that kicked off on July 9th. This effectively converted every ten THQ shares into s single share, thus increasing its value.
This process has allowed it to trade above $1 for at least 10 consecutive business days” and maintain its NASDAQ status.