Nasdaq isn't COOL with Majesco. The stock exchange has informed the Cooking Mama
publisher (stock symbol: COOL) that it has 180 days to bring its share price beyond $1, or it risks being delisted.
If Majesco fails to sufficiently increase its stock price by August 30, it will receive further formal notification, at which point it can attempt to appeal the decision.
In the last quarter
, Majesco managed to raise its net revenue on both a quarterly and yearly basis, but was unable to translate that success to overall profitability. The company's stock price most recently closed at $0.99 per share.
It's not the first time Majesco has skirted Nasdaq delisting. In 2008, the company was warned by the stock exchange
, but the company managed to regain its good standing the following April, an achievement this publication honored with the snappy headline "Majesco Back In The Black On The Nasdaq Track