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THQ's stock is so far below the minimum price to remain on the NASDAQ that its board thinks the only solution is to combine their stock.
THQ's stock is so far below the minimum price needed to remain on the NASDAQ that its board thinks the only solution is to reverse split their stock.
On June 29, the company will be holding a stockholders meeting to see if the company can do a one to three, one to five or one to ten reverse stock split in hopes of regaining the threshhold value the company needs to stay listed, according to an SEC filing.
The stock is currently valued at about $0.67 a share. It has to be valued at $1 or more to stay on NASDAQ. If the company combines their stocks at a 1:3 ratio, shares would likely increase in value to just more than $2 a share. A 1:5 reverse split would jump it to nearly $3.40 a share and a 1:10 reverse split would jump it to just over $6.75 a share. The market value of the company would remain at an estimated $46.5 million.
