Majesco Faces NASDAQ Delisting
A post on Joystiq reports that publisher Majesco faces the possibility of being delisted from NASDAQ because the company’s stock value has dropped too low. If a company’s stock price is below $1 for more than 30 days, it gets booted. However, the company can avoid delisting if, in the next 180 days it manages to raise its stock value up to a buck for ten consecutive business days.
The last time a game publisher had this kind of problem was THQ, which, back in January of last year, was warned for just the same thing. By July the company had managed to raise its stock value and avoid losing its place on the NASDAQ. Of course, six short months later, THQ filed for bankruptcy and was sold off piece-by-piece to different companies.
We’ll see what happens to Majesco in the coming months…but situations like this don’t typically bode well.