The latest incarnation of video game pioneer Atari is just about finished. The New York-based company, which replaced its board in October and its CEO this month, released another round of grim financials last week: Included amongst the carnage (sales down, losses up) was the dreaded “going concern” note. Not that many people care at this point: ATAR shares, which hovered around $6 a year ago, are below $2 these days.
As we noted last month: Atari is no longer a video game producer, but simply a distributor, and it doesn’t have the scale to play in that market. All that’s left at this point is a firesale of its remaining asset — its iconic brand and logo.