THQ Inc. Announces Red Faction: Armageddon Development (NASDAQ:THQI)

THQ Inc. Announces Red Faction: Armageddon Development (NASDAQ:THQI)

Today THQ Inc. (NASDAQ:THQI)announced the development of the next title in the Red Faction franchise with it's internal studio Volition Inc. The game release date has been set for March 2011.

Red Faction: Armageddon takes place beneath the surface of mars and follows the character Darius Mason. Of course, the game is a first person shooter and uses Volition's Geo-Mod 2.0 technology. Red Faction Armageddon features brand new physics and game play as well as some old favorites such as the Magnet Gun. Both Multiplayer co-op and single player campaign are available modes.

Red Faction was released in 2001 for Play Station Two and PC. It was one of the first games to feature Geo-Mod technology which allowed players to destroy certain aspects of the environment around them. The game was an instant cult classic following a lowly miner, Parker in bringing about rebellion against the evil Ultor Corporation on the planet Mars. Two more installations of the game were released in the following years (Red Faction 2 and Red Faction: Guerrilla). For most fans of the franchise, Red Faction 2 remains the highlight of the series.

THQI is currently trading at $5.54 and has been slipping from its high's in the $8.30 range. The company is trending to hit $5.00 as U.S. markets continue to take a beating amid world news and economic troubles. As I have stated before, it will be interesting to see how gaming stocks in general begin to turn around as the Holy Grail event for nerds everywhere approaches, E3.

Some stocks to watch as releases hit this summer are

COOL (Majesco Games)

ATVI (Activision/Blizzard) Watch for Starcraft 2

ERTS (Electronic Arts Inc.)

NTDOY (Nintendo Co.)

KNM (Konami Corporation ADR)

MWYGQ (Midway Games)

All of these gaming companies are looking to bounce back and reclaim profits in the second half of this year in order to gain steam going into the holiday season.

Disclosure: no positions

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