THQ loses almost a fifth of its value
Company stock falls 18% after poor financial results, while EA continues to rebound
THQ's share price fell by almost 18 per cent over the day yesterday after investors reacted badly to the company's Q3 financial results, in which it posted a USD 192 million loss, and stated its intention to cut 600 staff.
After those results were reported, several analysts expressed concern over the health of the company, with Signal Hill's Tood Greenwald casting doubt on its ability to climb out of the financial difficulties in the future.
The Saints Row publisher saw its market value cut by almost a fifth as the stock dropped by 74 cents to USD 3.40.
Meanwhile, by comparison, there seems to be growing investor confidence over the plight of fellow troubled publisher EA, despite it announcing poor results earlier this week, as well as a raft of measures to cut staff and facilities, and focus development on a more streamlined product portfolio.
The company saw its share price climb by over 8 per cent to USD 18.70 yesterday, following a rise of over 11 per cent on Wednesday.