While THQ has had its share of bad news lately, it seems that the company has avoided being delisted from the NASDAQ (stock market) by performing a reverse stock split. Last week the stockholders met and approveda ten to one reverse stock split. This has condensed THQ’s 70 million stocks down to only 7 million stocks, raising their value from $0.62 to $6.20.
The stock split will go into effect next Monday and it will raise the price well over the minimum $1 required. Now whether or not the company will manage to keep their stock price over $1 will be a question for the future. If you want to help out THQ well, their next game, Darksiders 2, will be released on August 14th.