Majesco remains on Nasdaq
Game company regains confidence of stock exchange; Psychonauts publisher meets requirements, won't be delisted.
During 2005, Majesco was left for dead on Wall Street, taking a drubbing that saw its stock fall to under a buck at one point. Times were hard for the company, and Nasdaq even notified it that it was in jeopardy of becoming delisted.
Those fears came to rest today, as Majesco announced that it has regained compliance with the market and will not be taken off the nation's second-biggest stock exchange. Had it, it would've joined such other fallen publishers as Interplay as an OTC--or over-the-counter stock.
Following disappointing fiscal quarters, a subsequent fire sale of Majesco's licenses to other game companies and a new concentration on budget-priced games has seen the company prop itself back up momentarily. The company reported a profit of $839,000 for its second quarter, which ended April 30.
Majesco's stock was down two cents to $1.50 a share at the end of trading today.