It’s no secret that peripheral maker Mad Catz has had a tough couple of years. The company has experienced a downturn in revenue recently, which has resulted in significant layoffs and restructuring last year–including letting go of most of the fighting game players that they sponsored.
It seems that the company has suffered another blow, as they have now been delisted from the New York Stock exchange due to the “abnormally low trading price” of its common stock. NYSE regulations require that a company’s stock trades at $1.00 across 30 consecutive days to remain listed in the exchange. Mad Catz stock, on the other hand, went as low as $0.06 before they were delisted.
Mad Catz made a name for itself at the turn of the decade as a producer of top-of-the-line arcade sticks. Now, while its association with the fighting game community was generally successful–with them having a heavy involvement in both sponsoring players and the Capcom Pro Tour itself–other ventures haven’t seen quite the same level of success. Their Rock Band 4 peripherals, something which the company seemingly hinged their future on, failed to stem the tide of loss and turn their fortunes around.
Source: NASDAQ