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Published in Gaming

Midway stock drops by 40%

by on05 December 2008

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Talk about fatalities

 

Midway Games is going through a really rough period and it doesn’t look good. Just like many companies in these troubled times, Midway is also facing a possible delisting from the New York Stock Exchange.

To paint the picture better, you should know that a private investor recently bought 87% of the shares for only US$100,000. That didn't quite help, as their shares dropped to 23 cents, which is 40% less than on Monday.

The aforementioned private investor, Mark Thomas, is allegedly going to splash out another US$ 70 million in order to cover some of the debt, but we've yet to see how that works out. Let's just hope that Mortal Kombat vs DC Universe fares extremely well, as this game alone could have a major affect on this company's survival.

More here.

Last modified on 06 December 2008
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