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THQ, publisher of Red Faction, Saints Row and Darksiders, has seen its shares drop to their lowest point in 16 years.
On Wednesday, the company’s shares dropped to $1.79, their lowest since 1995.
The drop follows a recent announcement that THQ will be shuttering two development studios in Australia and eliminating a development team in Phoenix, Arizona. The company has also revealed it will be cancelling an upcoming motocross game. The moves will reportedly see the loss of around 200 jobs.
“Investors have become extremely skeptical of THQ,” offered Wedbush Securities analyst Michael Pachter. “Honestly, THQ has been saying they’ve been in a turnaround since 2008.”
THQ has yet to comment on the news.
If things continue in this vein, it’s feasible that THQ could end up being gobbled up by a larger publisher. With the money it’s been pouring into Saints Row marketing, however, it could well avoid this fate. We’ll find out in November.
About the Author
Saints Row: The Third
- Platform(s): Linux, Nintendo Switch, PC, PlayStation 3, Xbox 360, Xbox One
- Genre(s): Action, Adventure
