I was interested to see how investors were responding to Star Trek Online. I did a little search for Cryptic Studio's current stock price. Surprise! Cryptic stock is not to be found anywhere. Presumably because it was bought out by Atari on December 9, 2008.
"Early this morning, Atari announced that they had purchased US MMO developer Cryptic Studios for an initial 26.7 million USD, along with a possible 20 million USD bonus for future performance. Cryptic has three games coming out in the next three years: Champions Online (2009), Star Trek Online (2010), and a secret project (2011). All three will now be released under the Atari logo."
Whats more interesting is that earlier that year Atari was delisted from NASDAQ. Now Atari's current stock price is no where to be found either.
Atari, Inc. (Nasdaq: ATAR), an interactive entertainment company, announced today that on March 24, 2008 it received a Staff Determination Letter from the Nasdaq Listing Qualifications Department stating that Atari, Inc. has not gained compliance with the requirements of Nasdaq Marketplace Rule 4450(b)(3), and that its securities are therefore subject to delisting from The Nasdaq Global Market.
As previously announced, on December 21, 2007, the Nasdaq Listing Qualifications Department notified Atari, Inc. that, pursuant to Nasdaq Marketplace Rule 4450(e)(1), unless the market value of Atari, Inc.'s publicly held shares (which is calculated by reference to Atari, Inc.'s total shares outstanding, less any shares held by officers, directors or beneficial owners of 10% or more) maintains an aggregate market value of $15.0 million or more for a minimum of 10 consecutive business days prior to March 20, 2008, Atari, Inc.'s securities would be subject to delisting.
So let me get this right...Cryptic was doing so bad that they got bought out by another failing company. Wow. And people actually believe that things are going to improve with this game? If anything things are going to get worse. Mark my words, in 12 months max Cryptic Studios will no longer exist in its current form, and STO will be either sold off or totally shut down.