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Majesco Stock Up Nearly 50 Percent Ahead Of Earnings Report

Ahead of a final 2010 quarterly earnings report due next week, Majesco's stock has shot up nearly 50 percent this week, indicating strong market expectations for the company's holiday performance.
Ahead of a final 2010 quarterly earnings report due next week, Majesco's stock has shot up nearly 50 percent this week, indicating strong market expectations for the company's holiday performance. The company's stock closed at $1.14 per share today, up 48 percent from a close of $0.76 last week, on tepid growth for the market as a whole. The quick rise has put the stock in its best position since last January, when it was in the middle of a 78 percent slide down from $2.39 in July 2009 to $0.51 in August 2010. The rise comes amidst the company's announcement that its Zumba Fitness game for Kinect has shipped 500,000 units and today's announcement that the company is bringing its popular Cooking Mama series to Facebook. Last March, NASDAQ warned the company it had until August 30 to avoid a potential delisting by raising its share price above $1. The company finally reached that price mark only this week. The company faced a similar delisting warning in August 2008 before dipping to a five-year low stock price of $0.36 in October. In 2007, Majesco settled a lawsuit brought by shareholders as it transitioned its high-end publishing business to one more focused on casual titles.

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