(Edited by nullnullnull (1473), Jan 04, 2007)10 to 1 reverse split for Atari
nullnullnull (1473), Jan 04, 2007
Ouch! In a Press Release on Yahoo! Atari announced it has received shareholder approval to a one-for-ten reverse stock split. The split will hopefully enable Atari to meet the minimum stock price requirements for continued listing on the Nasdaq.
"As a result of today's action, effective at the close of business on January 3, 2007, each 10 shares of Atari common stock, par value $0.01 per share, will become one share of common stock, par value $0.10 per share."
Provided Atari can keep its share price above $1.00 for ten days Nasdaq will withdraw its plan to suspend the stock. Don't come out with a good game for a couple of years, add in some over priced acquisitions and a few big budget flops and this is what happens. It is so easy to go from the top of the heap to the bottom. Not as easy the other way around. If the GTA franchise ever loses its luster could Rockstar be next?
That is some REALLY low stock prices for Atari. I would never have thought they'd be THAT low.
Speaking of stock prices, I really wish I had lots of money back in 1994 (or maybe it was 1995). I was watching Netscape starting around September or so and was doing some play trading (pretending to invest). Netscape stock was around $20 or $30 or something like that and I was positive it would go up. Within a couple of months, it was just under $130. I'd have loved to have taken $50,000 and made it into $2-3 million in a couple of months! That was the only time I was positive about how a company's stock would change.
" If the GTA franchise ever loses its luster could Rockstar be next?"
Only if they can't think up either the next franchise or some profitable individual games....
"Speaking of stock prices, I really wish I had lots of money back in 1994 (or maybe it was 1995)."
There's plenty of lucrative investment opportunities given hindsite; I wouldn't have minded buying a healthy share of Microsoft stock back in the day... :)