advertisement
advertisement

It’s basically “dollar movie night” for MoviePass investors

Helios and Matheson Analytics, MoviePass’s parent company, saw its stock price dip below $1 a share on Monday to close at 80 cents.

It’s basically “dollar movie night” for MoviePass investors
[Photo: TeJyng/Pixabay]
advertisement
advertisement

MoviePass is collapsing, and investors are paying the price.

advertisement

A few days after the movie-ticket subscription service reportedly borrowed $5 million to keep the lights on, its parent company, Helios and Matheson Analytics, saw its stock price dip below $1 a share on Monday, closing at 80 cents. It’s doing a bit better this morning so far, trading at $1.12 after the markets opened.

For context, this is a company that was trading at $25 a share just one week ago.

As was widely reported on Friday, MoviePass—which lets subscribers purchase movie tickets for a flat fee every month—suffered outages last week as the company ran out of money. To add insult to injury, yesterday it was reported that some big-budget blockbusters may no longer be available for MoviePass users.

advertisement
advertisement

Despite all these issues, the idea behind MoviePass does rest on a compelling idea—what if there were a better way to fill all those empty seats at the multiplex? Now all it needs is a Hollywood ending.

About the author

Christopher Zara is a senior staff news editor for Fast Company and obsessed with media, technology, business, culture, and theater. Before coming to FastCo News, he was a deputy editor at International Business Times, a theater critic for Newsweek, and managing editor of Show Business magazine

More