NASDAQ offers new ultimatum to Atari |
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Atari's financial woes as of late is no secret to us all. The company was recently involved in a heavy management shake up, not to mention that they've been selling off a good number of their development studios. Back in November, NASDAQ even warned the company that they will be de-listed if their financial status won't approve.Surprisingly, it seems that NASDAQ suddenly had a change of heart and offered the publisher a new ultimatum. The American stock exchange group notified Atari that they would withdraw the warning if its shares trade above the US$ 1 target for ten days ending on or before January 18 2007. When the warning was first issued, Atari's common stock was worth a disappointing US$ 0.01 per share.
Furthermore, Atari took the offer and immediately executed a one-for-ten reverse stock split. While the move is still up for a bid, it simply means that ten of each of the common stocks will be be lumped together to make just one stock. That will then bumped up the price of its shares to US$ .10, much closer to the target one buck per share.
Given all these, CEO David Pierce was rather quiet as he only had this words to say: "We are pleased that our stockholders have approved this step that will enable our common stock to continue to be listed on the NASDAQ Global Market."
Via GamesIndustry
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User Favorites - December
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Comments
I thought that since they made Test Drive Unlimited which is one of the best driving games on 360 if not the best...they would have stocks worth at least $1....If they can stay on Nasdaq, I think I will invest...can't really lose anything...
"can't really lose anything..." thats how people lose hundreds-thousands of dollars
if you go and buy $ 100 worth of stock you can then have 1000 shares. If they do pull it off and by jan 18th they increase the shares to $1 per share you will have made $900 if not then get out on the 17th and you might have made a few hundred dollars.
WOW I just went to etrade and in november they were down to about .10 a share. today it's worth $5.80 a share. What a shame I could have invested and made a couple of thousand dollars but nooo qj.net is posting OLD news :P
MY GOD UBI SOFt stock TANKED In December I am goign to invest now thier overall High was over 70 for last year now thier at 34 I think it will pick up in March When some of thier new titles come out. I Think I'm gonna like the stock market. BUt I'm only investing in Video game companies. OHH Ea Stock is at $53 a share I need to Get together some bank first before i start investing, Prolly $3000
very unlikely. they might have bought back a lot of stocks and changed their symbol to stay listed on the nasdaq.
invest in some real companies. "aapl" is a good one cant go wrong with "csco" either...i work there. but hey.....feel free to stay with your video game companies
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