Guys,
You've probably already seen this...but I'll post it anyway:
well-rounded.com
Acclaim delisted from NASDAQ
Less than one week after Interplay was informed that the Nasdaq stock exchange had started procedures to delist the company, another gaming manufacturer is in the same trouble. Acclaim has received notification that it does not currently meet the net tangible asset requirement for continued listing (in other words, its cast coffers aren't big enough). Also, the company's stock has fallen below $5 per share. (Acclaim shares are currently trading in the neighborhood of $2, with a 52 week high of only $8.69.)
Acclaim says it will appeal the decision, which will allow its stock to continue to be traded. Among the options at its disposal are a reverse stock split. Should the appeal fail, though, the company would be delisted.
Like the troubles at Interplay, a delisting for Acclaim does not bode well for the company. In recent months, Acclaim has quietly shed most of its PC gaming business to focus on console gaming, specifically the next generation consoles. Among those is a PlayStation 2 sequel to Shadow Man, the PC game that met with mixed reviews. |
