How Low will THQ Go After Expanding its Humble Bundle?
Shares of THQ (NASDAQ: THQI) have been plummeting ever since the company announced its first Humble Bundle. The charitable collection (which includes several of THQ's most popular games) was viewed as a major win for consumers. Investors were not pleased with the decision, however, as they may have believed it to be a sign of desperation. They also feared that this may dilute the company's most important property, Saints Row.
Not satisfied with the slowing sales of the humble collection, THQ has added another game (Titan Quest) to the mix. Path to War -- a downloadable add-on for Red Faction: Armageddon -- has also been added.
While the Humble Bundle continues to attract new buyers (more than 692,000 people have purchased it), the average selling price has been stuck at $5.61 for the past couple days.
THQ shares have fallen more than 21 percent since the Humble Bundle campaign began. The stock remained somewhat stable yesterday after enduring several days of massive losses.
The top contributor list has not changed since Brian Farrell, THQ's CEO, was outbid by a penny. Farrell contributed $1,650.00 to the campaign. A person by the name of "McJohn" contributed $1,650.01.
THQ closed the year by releasing Darksiders II for Wii U. The game had previously been released on Xbox 360 and PlayStation 3, where it sold roughly 500,000 copies each. Only 60,000 copies of the PC version have been sold. THQ has yet to publish any sales figures for the Wii U version.
THQ currently has five games in development for 2013: Saints Row 4, WWE '14, South Park: The Stick of Truth, Company of Heroes 2, and Metro: Last Light. Of those games, only one -- WWE '14 -- is slated for release on PS Vita and Wii U. None of the games are currently being developed for the Nintendo 3DS.
Without a formal announcement regarding its Humble Bundle expansion, investors may not even be aware of the new additions. Year-to-date THQ has declined more than 84 percent. The company has lost more than 99.5 percent of its value since 2007.
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