Looks like there might have been more truth behind the recent THQ news than they’ve let on. The company received a delistment warning from the Nasdaq Global Market that because its stock had closed at under $1 for the last 30 consecutive business days, it has 180 days to bring its closing price above $1 or face deslistment from the Nasdaq Global Market. If THQ do manage to bring it over $1, they have to hold it there for at least 10 consecutive days in order to clear their standing.
The rash of bad news for the company comes as a bit of a surprise considering their success in the last few years with the Red Faction series, Metro 2033, STALKER series, Saints Row series and Darksiders. An anonymous letter sent to THQ’s tall foreheads a few days ago references to a pattern of bad management decisions and overextended industry reach that could very well be the key factors in this sudden downturn.