THQ may be on the way out
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themadlionsfan
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in IllGaming
THQ Stock Falls 48% Following Earnings Report
Currently valued at $1.57 per share.
by Andrew Goldfarb NOVEMBER 6, 2012
Following THQ’s earnings report yesterday, company stock has fallen nearly 50%. As of this writing, THQ stock is currently down to $1.57 per share compared to over $3 when the market closed yesterday, marking a decline of 48%.
In its earnings report, THQ delayed three of its upcoming games and noted that the delays will have “financial implications.” In a statement, THQ said it “will likely need to raise additional capital, and may need to defer and/or curtail currently planned expenditures, cancel projects currently in development, sell assets, and/or pursue additional funding or additional external sources of liquidity, which may not be available on financially attractive terms.” For now, the company has partnered with brokerage firm Centerview Partners to evaluate “strategic and financing alternatives” for its future.
Earlier this year, THQ enacted a reverse split of its stock to avoid being delisted by NASDAQ, which requires companies to maintain a minimum share price of $1.00.
Currently valued at $1.57 per share.
by Andrew Goldfarb NOVEMBER 6, 2012
Following THQ’s earnings report yesterday, company stock has fallen nearly 50%. As of this writing, THQ stock is currently down to $1.57 per share compared to over $3 when the market closed yesterday, marking a decline of 48%.
In its earnings report, THQ delayed three of its upcoming games and noted that the delays will have “financial implications.” In a statement, THQ said it “will likely need to raise additional capital, and may need to defer and/or curtail currently planned expenditures, cancel projects currently in development, sell assets, and/or pursue additional funding or additional external sources of liquidity, which may not be available on financially attractive terms.” For now, the company has partnered with brokerage firm Centerview Partners to evaluate “strategic and financing alternatives” for its future.
Earlier this year, THQ enacted a reverse split of its stock to avoid being delisted by NASDAQ, which requires companies to maintain a minimum share price of $1.00.
Comments
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Uh oh
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I like THQ
No Mercy was GOAT
Didn't they do Def Jam FFNY too? -
I can see THQ making a football game that will rival madden
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The user and all related content has been deleted.
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RodrigueZz wrote: »I like THQ
No Mercy was GOAT
Didn't they do Def Jam FFNY too?
EA published Def Jam FFNY, But the game was developed by the same cats that did No Mercy and all the GOOD N64 wrestling games, AKI Corp.
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LOLOL I called this 2 years ago....
I remember someone on here was asking me about investing in them, I hope ? didn't
THQ hasn't turned a profit in 6 years, and on their balance sheet their "bankrupt" and living on borrowed money SMMFH. THQ needs a big loan from a very very very generous investor who won't mind them not making a dime for the next 5 years which is highly unlikely. They have the revenue growth but they're selling games at a loss and putting too much money into marketing.
Chances are the vultures will come in and pick the scraps leaving THQ with nothing. All THQ has are patents of older games but even if they sell that it won't be enough. It's a shame cuz they helped drop some gems back in the day
This spells really bad news for the WWE franchise over there and not too long ago they signed a 10 yr deal with WWE to continue making the WWE games. If they fold it's going to be a wrap for that series for a good while unless they link up with 2k. -
Good... especially after Saints Row: The ? .
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EA would probably snatch up the WWE rights just like they did UFC recently.
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Indy8503 HD wrote: »EA would probably snatch up the WWE rights just like they did UFC recently.
I already don't want to play any EA Sports game besides Fifa..
You telling me that EA Sports is gonna ? up WWE '14 too?
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A lot of 3rd party developers are not gonna survive when the next round of consoles (Ps4, X Box 720, Wii U) come around.
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good
they were gettin over on us with most of the games they put out
the last good thing they have is the WWE series and they have been ? up on that since 2006 -
Good, they have always been a ? company outside of when they had AKI make those 64 wrestling games. Really one of the top companies whose games I vowed to never buy again. Right up there with Activision. ? company. I still want my money back from that wack ass WCW Thunder game on the PSX.
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rofl @ holding the grudge that long.
Nitro/Thunder wasnt that bad when u consider the fact that EA released 2 ? wCw games back to back
Mayhem & Backstage Assault -
and Activision need to make another Vigilante 8
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Who?
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A lot of 3rd party developers are not gonna survive when the next round of consoles (Ps4, X Box 720, Wii U) come around.
And this is why first/second party games are more important than ever. I wonder what MS will do next generation when they can no longer depend on multiplatform third party games to sell their console? Sony was smart to invest in their own franchises and we all know how Nintendo milks their games. -
A lot of 3rd party developers are not gonna survive when the next round of consoles (Ps4, X Box 720, Wii U) come around.
And this is why first/second party games are more important than ever. I wonder what MS will do next generation when they can no longer depend on multiplatform third party games to sell their console? Sony was smart to invest in their own franchises and we all know how Nintendo milks their games.
Sony's first party joints are trash .... they have to make exclusives because most 3rd party can't get the most out of the ps3 . -
I know one thing if Vince lets EA get the rights to develop WWE games it's over I remember renting WCW Mayhem back in the day ? was beyond garbage. Let 2k sports get a hold of the franchise.
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Well if THQ dies I hope Syn Sophia(A.K.I) buys the rights to the wwe games
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MC The Rapper wrote: »A lot of 3rd party developers are not gonna survive when the next round of consoles (Ps4, X Box 720, Wii U) come around.
And this is why first/second party games are more important than ever. I wonder what MS will do next generation when they can no longer depend on multiplatform third party games to sell their console? Sony was smart to invest in their own franchises and we all know how Nintendo milks their games.
Sony's first party joints are trash .... they have to make exclusives because most 3rd party can't get the most out of the ps3 .
Are you on ? ? Their first party has carried the PS3. Yeah you don't know ? about gaming.
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