THQ stock drops morning after earnings report

THQ stock dropped heavily this morning, following the company's unfavorable earnings report yesterday, according to the company's NASDAQ listing today.

As of this posting, the stock price has dropped 48 percent, and trading is at $1.55 and slowly dropping.

On Monday the company posted a $21 million loss on $107.4 million in revenue for the three month period ending Sept. 30 and announced delays for three of its titles: South Park: The Stick of Truth, Company of Heroes 2, and Metro: Last Light. THQ also announced it is currently "exploring strategic alternatives" with another company regarding private equity deals.

In May, THQ stock fell below the minimum price for inclusion in NASDAQ. Faced with possible delisting from NASDAQ, the company opted for a 1-for-10 reverse stock split, changing 70 million shares to 7 million and bringing the stock from $0.51 to $5.16 a share. The company was compliant with NASDAQ regulations by July.

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