View Full Version : Midway receives delisting notice from NYSE
Eddiedundidit
11-21-2008, 12:01 PM
Industry folks have been joking that Midway is the new Atari; however, while Atari is finding redemption in rebirth, Midway continues to sink deeper into the Swamps of Sadness. The latest bit of bad news comes from the New York Stock Exchange, which has put the publisher on notice for potential delisting.
NYSE states that Midway needs a closing price of at least $1 over 30 consecutive days -- the stock is currently trading at about 25¢. According to NYSE rules, the publisher has six months to save itself from delisting. At this time, the house of Booty has its financial future pinned on the performance of Mortal Kombat vs. DC Universe and Wheelman. Do you have the heart to tell Midway how this will end?
source (http://www.gamedaily.com/articles/news/midway-gets-delisting-warning-from-nyse/?biz=1)
bonkman
11-21-2008, 12:08 PM
Might be worth the $25 to buy 100 shares :lol: Just in case.
Wow. They're down 91% YTD.
Haast
11-21-2008, 12:11 PM
I wonder who will end up buying their IP once they are dissolved...
darkcloudinc
11-21-2008, 12:25 PM
Wow, if someone wants to commit a hostile take over of Midway, now is the time! lol
Which makes me wonder, could you potentially own stock majority for 2.5k?
bonkman
11-21-2008, 12:33 PM
Wow, if someone wants to commit a hostile take over of Midway, now is the time! lol
Which makes me wonder, could you potentially own stock majority for 2.5k?
No. For one thing, 2.5k would buy you 10000 shares and open trading volume is 60k shares. Also, I don't think that 60k includes company owners stock, but I may be wrong about that.
Eddiedundidit
11-21-2008, 01:06 PM
I wonder who will end up buying their IP once they are dissolved...
let's pray not EA
bonkman
11-21-2008, 01:09 PM
let's pray not EA
Why? I think "Mortal Kombat All Play" has a nice ring to it.
Seriously, I don't think EA could really screw up that studio any more than it is.
darkcloudinc
11-21-2008, 01:09 PM
No. For one thing, 2.5k would buy you 10000 shares and open trading volume is 60k shares. Also, I don't think that 60k includes company owners stock, but I may be wrong about that.
ah, well, there goes my idea of reforming the company to be for the gamers, by the gamers with mandates that the CEO is paid largely based on the performance of the company and their parachute consisting largely of company stock lead instead of cash on the basis they
Eddiedundidit
11-21-2008, 01:17 PM
Why? I think "Mortal Kombat All Play" has a nice ring to it.
Seriously, I don't think EA could really screw up that studio any more than it is.
Considering they own just about everything.. I'd be nervous. First off, I could see them charging for extra guys..
it's just not a good idea in my opinion
appleyum
11-21-2008, 01:22 PM
I say Capcom add Killer Instinct and MK to their belt
Come to think of it, besides MK, what has Midway recently announced/released that's caught our attention?
bonkman
11-21-2008, 01:23 PM
I say Capcom add Killer Instinct and MK to their belt
Come to think of it, besides MK, what has Midway recently announced/released that's caught our attention?
Are they still behind Blitz The League? Not that it's really caught our attention -- seems like they're trying to put a fighting game into a football setting.
Your move would leave the world open to SF v MK that's not on Mugen. Like a fanboy's wet dream.
appleyum
11-21-2008, 01:29 PM
Are they still behind Blitz The League? Not that it's really caught our attention -- seems like they're trying to put a fighting game into a football setting.
Your move would leave the world open to SF v MK that's not on Mugen. Like a fanboy's wet dream.
I like to see DC vs Marvel vs Capcom vs SNK first ;)
bonkman
11-21-2008, 01:41 PM
I like to see DC vs Marvel vs Capcom vs SNK first ;)
Hell, why not throw every franchise in there? DC v MK v SF v Marvel v Capcom (I suppose makes SF redundant) v KI vs SNK....maybe bring back some other Midway franchises like Primal Rage and Pit Fighter :lol:
Can you see the box? Title takes up the top 3/4ths and a hype balloon says "select from over 5000 characters!"
vangolu
11-21-2008, 01:49 PM
So how much do I need to spend to buy controlling share of Midway?
appleyum
11-21-2008, 01:50 PM
Hell, why not throw every franchise in there? DC v MK v SF v Marvel v Capcom (I suppose makes SF redundant) v KI vs SNK....maybe bring back some other Midway franchises like Primal Rage and Pit Fighter :lol:
Well I can't be too greedy. I was going to throw in Arc System Works as well.
If you want to be really greedy...throw in Naruto and Bleach. Need some Eastern manga to balance off Western comic books ;)
I don't know about MK in 2D Cel animation, it's never been done that way. MK will also be very weird with 3 level gauge system and lack of fatality moves.
bonkman
11-21-2008, 03:21 PM
Well I can't be too greedy. I was going to throw in Arc System Works as well.
If you want to be really greedy...throw in Naruto and Bleach. Need some Eastern manga to balance off Western comic books ;)
I don't know about MK in 2D Cel animation, it's never been done that way. MK will also be very weird with 3 level gauge system and lack of fatality moves.
What rule is there that says you can't have digitized actors fighting hand-drawn sprites? ;)
Phrozt
11-21-2008, 03:29 PM
Eh... from my charting, it's probably going up to about $.32 on monday (barring any news that says otherwise). After that, depending on the push, it will most likely go back down.
It went up 16% today on low volume, which is surprising because it's friday. Normally I'd say it's just going to go straight down, but because it'll open on Monday (beginning of the week) I say there's a potential to go up to about $.32.
Brian9
11-21-2008, 05:28 PM
Maybe the government will bail them out too! :lol: I love my tax dollars being used to reward people for failing!
SmokeMaxX
11-21-2008, 08:03 PM
Hell, why not throw every franchise in there? DC v MK v SF v Marvel v Capcom (I suppose makes SF redundant) v KI vs SNK....maybe bring back some other Midway franchises like Primal Rage and Pit Fighter :lol:
Can you see the box? Title takes up the top 3/4ths and a hype balloon says "select from over 5000 characters!"
You mean "DC v MK v SF v Marvel v Capcom v KI vs SNK Smash Bros"?
Phrozt
11-24-2008, 07:53 AM
boo... it went up to .34 just to be a pissant.
But now it's going back down like I said.