Mad Catz Warned to Increase Share Price or Face Delisting from NYSE
Peter Donnell / 4 years ago
Things have not been going well for MadCatz in recent years, which is a bloody shame as they’ve made some pretty fantastic peripherals over the years, and still do for that matter. The main issue is it seems the company just can’t turn over enough profits for its investors and having recently offloaded its Seitek brand to Logitech, it’s still got some hard work ahead to get back to a comfortable level of profit.
Mad Catz is proud to be active on the NYSE, something they mention on all their press releases, but it may not be holding that claim for long. The company has been issued a warning that if it doesn’t increase the share price in the next six months, it would run the risk of being delisted from the NYSE.
MCZ stock is sitting at just 0.15 a share, which is really not good for any trading business. Most of this comes from the financial disaster that was the deal with Rock Band 4 creator Harmonix. They lost around $11m and had to lose 37% of their staff.
They’re going to have to make some big sacrifices while doubling down on pushing retail sales of the stock they have, or the business vultures will be looking to pick off what’s left like Logitech did with Saitek. Personally, I hope they recover, I love the products and their crazy designs, so fingers crossed this next few months brings them a stroke of good luck!