16-year low for THQ shares

You may well have figured this out already, but hard times have fallen about Homefront publisher THQ. Having shut down a large amount of studios, cut back on others and axed franchises like Red Faction, the publisher’s shares now face a 16-year low, VideoGamer reports.

Shares dropped to $1.79 on Wednesday (August 10). Prices haven’t been that low since 1995. While the company has kept quiet on the matter, Wedbush Securities analyst Michael Pachter offered this comment: “Investors have become extremely skeptical of THQ. Honestly, THQ has been saying they’ve been in a turnaround since 2008.”

The most recent victims of THQ’s current troubles were Blue Tongue Entertainment and two other studios. Can the company keep this up much longer?