Nasdaq removes Atari from index

Technology index Nasdaq has taken Atari off the boards. The publisher failed to meet the conditions imposed by the Nasdaq, after which trading in the company’s shares was halted.

The removal is a result of failure to comply with Nasdaq’s requirements requirement that Atari would reach a market cap of at least $15 million over a 10-day period by March 20. After it turned out that the publisher was unable to meet that requirement, trading in the company’s shares was halted on Friday. Atari’s shares are now traded through the alternative Pink Sheets Marketplacelike this reports MCV. Companies that trade their shares through Pink Sheets do not have to comply with the requirements of the US SEC, which makes it easier for small companies to initiate small-scale trading.

According to Atari, the removal from the Nasdaq will not affect the acquisition of Atari by Infogrames. Partly because of this, it cannot be ruled out that Atari will return to the American technology fair; Infogrames is considering changing its name to Atari after the acquisition because that name would be more recognizable than Infogrames.