Atari Facing NASDAQ Delisting
How the mighty have fallen. The bad news just keeps getting worse for ol’ Atari. It’s been a rough couple of years for them, as they posted a $71 million dollar loss for fiscal 2006 which forced them into firing 20 percent of their employees. To make things worse, Atari has just announced that the NASDAQ exchange is threatening to delist their stock for lack of fiscal reports for 2007.
Could they just be delaying the inevitable? The Atari stock is currently listed at 2.70 a share and falling, and any more negative financial news would be disaster for the company. Let’s put it this way, getting delisted from the exchange is BAD. It would certainly force Atari into desperate measures, if not bankruptcy. Let’s hope this classic developer can pull things together in time.