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Acclaim Stock Skids On Q1 Loss

Shares of Acclaim have slumped by over 20% since yesterday, when the company reported a $13.9 million loss in Q1 after the market closed.
In midday trading on the NASDAQ market, shares of Acclaim are trading at 68 cents, down 20 cents from their closing price yesterday. At least one analyst has expressed doubts about the company's amount of working capital -- the company has about $10.1 million cash. Michael Wallace, a games analyst at UBS Warburg, told his clients that "...the company's negative working capital raises concerns about the health of its balance sheet that need to be addressed. We see no positive catalysts for the stock." Wallace gave Acclaim a sell rating.

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