THQ delisted from Nasdaq stock exchange
Troubled publisher THQ was delisted from the Nasdaq stock exchange over Christmas, and is now listed on OTC Markets until the bankruptcy deal has been approved and set into motion.
The company, now trading under ticker symbol THQIQ instead of THQI, filed for Chapter 11 bankruptcy
just before Christmas as it looked to hand its business over to a new owner.
Trading OTC (over-the-counter) means that THQ's stock is not listed on an exchange, and is instead traded over the telephone and electronically, rather than on a physical trading floor.
THQ already struggled to stay listed
on the Nasdaq earlier this year, but managed by reducing its total number of common shares, which led to an increase in the price per share.
Concerning this latest shift, it's notable that once the upcoming bankruptcy deal is approved by the courts, THQ will be privately owned and won't be traded at all.