Things have been rough for THQ this year. With stock trading below a dollarearlier this year, they were in danger of being delisted. But they’re still fighting, with today’s announcement that their stockholders have approved a reverse split of common stock, which would bring them above Nasdaq’s required $1 minimum to stay listed.
Gamasutrareports that the reverse split is set for July 5. On that date, every ten shares of stock turns into a single share, without any change in value per share. This means that 68.5 million shares turns into only 6.9 million shares.
THQ has until July 23 to figure this all out. Hang in there, guys.
