Publisher of Test Drive, Dragon Ball series makes move in attempt to stay listed on the Nasdaq.
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.
Too bad :( I think Indigo Prophecy/Fahreheit and Act of War games were great. But that didn't help Atari that much.......
I know Atari has been struggling for a while. It would be sad to see them go. I hope this works out for them.
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!!!
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?
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.
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.
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.
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.
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.
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!
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.
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...
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.
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.
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!!
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.
Tough business, stay sharp or eventually you will fail. Branding and consumer sentimentality can only carry something so far !
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.
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.
De-list them. They can't even keep their stock over $1. So sad Atari. You were once a juggernaut of gaming.
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?
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.
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