Atari undergoes reverse stock split

Publisher of Test Drive, Dragon Ball series makes move in attempt to stay listed on the Nasdaq.

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Atari has undergone a one-for-10 reverse stock split in an attempt to keep itself listed on the Nasdaq Stock Exchange. The move means that every 10 shares of Atari common stock at the close of business yesterday, when it was valued at $0.57 per share, were consolidated to 1 share of Atari stock worth $5.70. Last March, the stock exchange warned Atari that it could be delisted if it continually failed to meet the Nasdaq's $1 minimum bid price requirement. Atari stock closed today's trading at $5.45, down $0.30 from its $5.75 opening. Atari must trade above $1 for 10 consecutive days before January 18 for Nasdaq to withdraw its decision to suspend the company's listing.

Discussion

79 comments
ZeshiO
ZeshiO

Bring back the Jaguar baby!

Zoomer30
Zoomer30

Investorrs just love to get RSd, makes them feel all warm and fuzzy.

_Sam_
_Sam_

Interesting. I didn't know there was a requirement like that

anamnawshad
anamnawshad

Too bad :( I think Indigo Prophecy/Fahreheit and Act of War games were great. But that didn't help Atari that much.......

HyperMetaDragon
HyperMetaDragon

:( I guess it's finally time to say that Atari's dead.

stziggy
stziggy

Atari keeps circling the drain.

jamjemclm
jamjemclm

I know Atari has been struggling for a while. It would be sad to see them go. I hope this works out for them.

vanhalendlrband
vanhalendlrband

If i was at Atari and i knew what was coming i just pull the craziest stunt, i'd put Atari in massive debt and release a **** crazy ass brand new Atari Console that owns alll consoles. GO ATARI!!!

Riverwolf007
Riverwolf007

Hey, quick someone call Nolan Bushnell maybe he can buy it back.

slipshoddoa
slipshoddoa

Funny. Atari was #1, king of the hill, unstoppable. At one point, they had a near monopoly and sold over 100 million consoles. Then in just one bad year during a console transition, they had massive losses that nearly brought down their media-giant parent company (Warner). Looks like history is repeating itself with Sony. The question is will Sony amputate its console business like Warner did to save itself or will they continue to let the PS3/Blu-ray bleed the company dry?

Unkillable
Unkillable

Please die already! Now it seems every game they make sucks and like some other people say it's not even the good Atari anymore.

PixyMisao
PixyMisao

This isn't the real Atari, the real company folded several years ago. I don't know why anyone would even bother to keep the name.

mpeg3s
mpeg3s

If the stock goes down to $1 again say good nite

quarterfly
quarterfly

Sigh, Atari is really getting owned

Brad_the_one
Brad_the_one

mmm...maybe its about time that atari went to live on a farm...;)

Runningflame570
Runningflame570

Atari stock has been in the crapper for ages and its dropping again after this..I'm thinking Atari is either going to be bought or be delisted.

chrisdojo
chrisdojo

so.... this isn't a split.... maybe a stock-combine? ;) sad, but.... goodbye atari :cry:

sofalover
sofalover

Reminds me of the Amiga all this Atari malarkey.

DoggySpew
DoggySpew

Why can't we just let Atari die ? Put it out of its misery ?

KickinIt_ftw
KickinIt_ftw

Dont mourn Atari. They've been dead for quite a few years. What you're seeing is Infogrames, with an Atari sticker (provided by Hasbro Interactive) slapped on. It's not time to buy Atari stock. They deliberately ****canned their company after taking out a massive loan to gobble up independant studios via hostile takeover failed to prove profitable. ....Once a few quarters of losing 20-30 million passed, they sold off studios (like Shiny), divested studios that they couldn't find a bidder on, (like Humongous), shut down all North American in-house production not based in New York and layed off more than half of their employees so people up top could bleed as may sheckles out of it as possible - before the whole thing went down in flames. Good riddance.

Sithlord
Sithlord

Berserker_2 :Microsoft would never buy Atari. They only buy the best. Lol, and they promptly ruin any studio they buy. Rare has done nothing good lately, all based on how Microsoft WANTS games to be developed. They bought Lionhead Studios (Fable), so lets see if Fable 2 gets half the features Peter M wants. Microsoft has deep pockets, but that does not mean they use everything they buy. They hold some things back for future sequels.

Berserker_2
Berserker_2

Microsoft would never buy Atari. They only buy the best.

xspawn69
xspawn69

Atari... Soon to be owned by Microsoft!!

zidura
zidura

I guess it's a good time to buy Atari stock. You what what they say....buy low sell high! Wait until this share drops to near $1 and then buy it for next to nothing!

Lasafrog
Lasafrog

Go away Atari. You screwed people for years before going under, only to be ressurected by Infogrames who has done nothing to improve your appeal. Crummy games, crummy marketing, another crummy game company that needs to go.

scurran007
scurran007

Hang in there Atari.....I love the new DBZ game for the Wii. I hope you pull this one off....the more competition the better gaming will be...

brainiac24
brainiac24

so cheap... *hint hint to msoft*

natester10
natester10

Well, they nearly had to file for bankruptcy last year...

nobeaner
nobeaner

Alright, well I wonder what other group is going to buy the Atari name next?

WestSideAzn
WestSideAzn

Sigh.... bye bye to a classic name...

coltACP
coltACP

Atari is just used as a known name- the company that owns it is NOT actually anything like the atari of old, that some of you are referring too. Atari did actually have this happen to them about 3 times or so and keep getting bought as a result by a bigger party. The developers Atari publishes for are not the best in the world but they do sometimes make good games, however it is obvious that not as many people buy these games as people by the crap from EA etc.

dennmann29
dennmann29

If you own atrai stock all I have to say is...SELL.SELL.SELL!!!!

rudyroundhead
rudyroundhead

Reverse stock splits are meaningless. The issue is there business model obviously no longer works so this is just a cheap move on their part to avoid the pink sheets. If you have no business plan in place or no changes that even remotely look like you are trying to turn things around then this stock is headed for a steady fall back to under $1.00 and eventual delisting.

Ima_Grey
Ima_Grey

What they should do is release (yet another) compilation of old Atari Arcade classic games... that will bring the stock up!!! Or maybe another crappy Matrix game!!

barflytke401
barflytke401

They need to release a new Jeopardy! game. That is the only way to save them now.

layddly
layddly

Man, to think the Jaguar 64 didnt keep the stock sky high. who would have thought.

nappan
nappan

This is a case of the shell of what was once a great company gasping it's last. The Atari so many people here are cheering for has been so gutted that all that's left is the name.

Sanguis_Malus
Sanguis_Malus

Tough business, stay sharp or eventually you will fail. Branding and consumer sentimentality can only carry something so far !

Lum_Yatsura
Lum_Yatsura

I don't see why Atari dropped or ignored their licenses that were making them rich. All of the DBZ Budokai games became or will likely be Greatest Hits on PS2, and UT2004 of course sold millions of copies.

thesineater
thesineater

HAHAHA. And Atari continues to struggle for life. I hope Atari's failure serves as a lesson to other game companies: If you don't give people what they want and if you cherish quantity above quality / value then you will fail. All of the companies that passed the Atari label around like a cheap whore never understood this. In the good 'ole gaming days, companies that pumped out a bunch crap game titles saw poor game sales and went belly-up. Alot of you guys are probably too young to remember it. This is the way it should be. Consumer dollars should be the deciding vote. Thanks to ( unfortunately) Microsoft flooding the console market with its " rush-out-a-half-ass-game-with-problems-and-patch-it-later" PC mentality, garbage game companies are avoiding true failure. In my opinion if a company loses sight of putting artistic expression in to games and creating new boundaries for gamers to enjoy then they should not make money. Adios Atari.

axillia
axillia

De-list them. They can't even keep their stock over $1. So sad Atari. You were once a juggernaut of gaming.

soul_motor
soul_motor

Wow, a reverse split. I've never heard of that... Do they have any business plan or model to keep the stock price up without another split?

applesause24
applesause24

Atari has published some great games. The problem is the mass market doesn't buy them, only the hardcore gamers might appreciate games like Indigo Prophecy and Path Of Neo.

vampiredust99
vampiredust99

I blame losing the Unreal franchise for part of their woes, that and really **** games

peachball
peachball

Atari is the original for console gaming. Come one guys! Support the Retro!