Majesco stock closes day at under $1
Majesco closed the trading day at $0.75/share, down 29 percent from yesterday. The publisher now has 30 days to bring its stock price above a dollar before it receives a delisting notice from the NASDAQ stock exchange. Stocks valued at under a dollar are against the NASDAQ rules.
The Cooking Mama company finds itself in this situation after announcing yesterday it would no longer provide quantitative guidance for the rest of the year. A recent example of a company making a similar declaration was THQ.
If Majesco receives a delisting notice, it has 90 days to regain compliance, but must maintain the stock price for over 10 days. Majesco has survived similar situations before.
