Atari In Danger of Delisting By NASDAQ

Atari™s problems seem to keep multiplying as the company struggles to stay afloat among news of major downturns of yearly revenues recently disclosed by the game company. Atari has been notified by the NASDAQ stock exchange that it is in danger of being delisted from its rosters. To be listed on NASDAQ, companies must meet certain minimum requirements. One of those requirements is to have a share price of $1 or above. Atari™s shares dropped below this figure for several weeks. To remain listed, Atari must have a closing price of $1 or more for ten consecutive days to avoid the ouster. Atari announced earlier that plans were in effect to sell off two or three of its studios, but the cost saving strategy did little to boost its stock prices. NASDAQ represents many high tech industries, and being listed on this stock market exchange lends a bit of glamour to those who are registered in the directory. Companies such as IBM, Intel, Microsoft, and Apple are listed in NASDAQ. The deadline for Atari to reach its goal of a $1 share price is August 30th.


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Author: GamerNode Staff View all posts by

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