Atari slapped by Nasdaq

Atari is once again in danger of being delisted from the second-largest stock exchange in the country, as the French publisher today confirmed receipt of a Nasdaq Staff Deficiency Letter.

Earlier this month, the exchange notified Atari that its stock doesn't meet the Nasdaq's minimum $1-per-share threshold, and would be removed from the exchange if it doesn't return to compliance soon. Atari has until August 30 to string together 10 consecutive business days with a closing stock price of $1 or more, or it will be delisted. Atari has been in violation of the Nasdaq's minimum stock price since it closed at $.94 on January 14.

As part of the effort to reverse its fortune, Atari plans to sell off some of its internal studios and cut its workforce by 20 percent. The publisher announced the pending restructuring on February 17, but the news has done little to soothe investor concerns. The company's stock experienced a small boost on the news, but soon lost that ground and has since slid even further from the $1 mark.

The company's stock ended today's trading at $.77 per share.