NASDAQ tells THQ they cool for now
THQ received notification from stock exchange NASDAQ that the company is back in compliance, having maintained a closing stock price of over $1 for 10 consecutive business days.
The publisher accomplished the feat through a 10-to-one reverse stock split, consolidating THQ's 70 million shares to 7 million and inflating the price by moving the decimal point one space to the right. THQ's market capitalization now stands at $35.4 million, and its stock is trading at $5.16/share this morning.
THQ has done the executive shuffle the past few months to get things back on track, adding new president Jason Rubin and announcing yesterday the addition of Relic founder Ron Moravek as "Executive Vice President, Production." THQ's next game is Darksiders 2, due on August 14.
