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Midway Stock Take Further Plunge

kijibe
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Posted December 4, 2008 - By kijibe

When Summer Redstone offloaded his majority 87% stake of Midway earlier this week, the share was at a dismal $.18.

As if things couldn't get any worse, they have. The company's stock has dropped 40%.

If they cannot pull it together within 30 days and bring their stock up to $1 per share, the New York Stock Exchange will be delisting them.

How quickly Midway went from being listed at #19 video game publisher in 2005 by Game Developer to now having stock that's almost worthless.

Remember Space Invaders and Pac-Man? Well, they were the company that licensed those great games. Their benchmark legacy, of course, is Mortal Kombat. Do you think there's any hope for this video game company to ever bounce back? 

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Tags: Other People's Misfortune, Videogames
Midway Stock Take Further Plunge
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