Company's market value falls below NASDAQ listing minimum.
Game publisher Majesco Entertainment has received a second delisting notice from NASDAQ. This means that the company's market value (the number of outstanding shares multiplied by the closing price per share) has dipped below the $35 million mark required for NASDAQ listing. Majesco plans to schedule a hearing to petition for continued listing.
Majesco fell on hard times after releasing several critically-acclaimed but commercially unsuccessful titles, most notably the cult favorite Psychonauts. They have since refocused on more mainstream budget titles such as Cooking Mama for DS and Bust-A-Move Bash for Wii, in hopes of generating higher sales.