Atari gets delisted by Nasdaq

by Alexander Sliwinski { May 9th 2008 at 10:00AM }

As of today Atari has been delisted by the Nasdaq stock exchange, but the company states it will appeal. The company was first threatened with delisting last July after it failed to submitits year-end financials, then again in December because its market value was too low, and one final time in March for not fixing its issues from the previous year. The publisher will have its stock quoted on Pink Sheets and OTC Bulletin Board until the decision is reversed.

The delisting of Atari won't stop the $11 million buyout by Infogrames or the master plan of CEO David Gardner, Directeur Général Délégué Phil Harrsion and rest of the new Atari/Infogrames crew. Bargain hunters looking for a good deal might want to see if Gardner would be willing to trade some Atari stock for a casserole or some landscaping work.

Tags: atari, delisting, infogrames, nasdaq

Reader Comments (Page 1 of 1)

PojoMofo @ May 9th 2008 10:07AM

WOW!!! I bet tens of people are pissed!!!

seriously though, If your bookkeping is so shotty you cant even turn financials in, 3 times in a row, of course there is going to be reprocussions.

Last note, Tuna Casserole FTW

Tim The Enchanter @ May 9th 2008 10:25AM

Haha.. nice pojo

DemonGSides @ May 9th 2008 10:32AM

TUNA NOODLE CASSEROLE: GREAT FOOD OR GREATEST FOOD?

NATO_Duke @ May 9th 2008 10:52AM

Green bean casserole for the win!

DangerMouse @ May 9th 2008 10:26AM

About time. The 7800 was garbage.

PojoMofo @ May 9th 2008 10:40AM

bu,bu,bu teh awesomesauce games!!

Nixontech2071 @ May 9th 2008 4:18PM

knock knock, DangerMouse? FUCK YOU.

Mike @ May 9th 2008 10:35AM

If someone were to offer me 100 shares of Atari in exchange for a hoagie from Wawa (props to those who know what a "hoagie" and a "Wawa" are), I'd turn them down - the hoagie is worth waaaaayyyyy more.

GRANTED @ May 9th 2008 10:39AM

NJ Wawa or PA Wawa?

BTW next time you think your job sucks, think about the account dept at Atari...

Mike @ May 9th 2008 10:42AM

NJ - just outside of philly to be specific. Love me some Italian hoagie action, and the lemonade iced tea rules everything.

And yea - you couldn't pay me enough to take a job in accounting at Atari. Not even if you promised free hoagies.

On a side note, I think I know what I'm having for lunch.

marauder800 @ May 9th 2008 10:47AM

That must be one hell of a hoagie for $162 (100 shares @ $1.62 closing price). I'll take the shares and Infogrames buyout, thank you.

Mike @ May 9th 2008 10:51AM

here's the thing - Atari's value will plummet until the buyout. If the buyout doesn't happen, then the hoagie would be a much more sound investment. Infograms? Not what I'd call a "high roller" or a super duper power house in gaming..... while we're on the subject, what the hell was Phil Harrison thinking when he switched jobs? Is he a blackout drunk? I mean no disrespect to him - just wish there was a thought bubble over his head.

marauder800 @ May 9th 2008 10:59AM

Actually, it won't plummet...they've been delisted. Infogrames is the largest publisher in Europe, so its not like they are Pop Cap or anything.

Mike @ May 9th 2008 11:10AM

Once you get delisted, you're a "risk" as far as any potential investors are concerned. While infogrames may be a large enough publisher, they don't exactly churn out the high quality games. The only two high quality titles I can think of off the top of my head are civilization, and alone in the dark. I'm being generous by including alone in the dark - the original was good, but not a best seller by any stretch. Oh - and they have hasbro's games too.... Monopoly anyone? No? Didn't think so.

Alright, all joking aside, no they're not small or insignificant, but they're not big and mighty either. You're right - they're not Pop Cap Games...... they're not Sony either.