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Thousands of investors got creamed trying to snatch cheap shares of MoviePass’ parent company during its epic meltdown
73,000 investors held shares of Helios & Matheson in Robinhood when the app barred new purchases earlier this week. The stock is quickly approaching zero.
Robinhood shuts customers out of buying shares of MoviePass’ parent company after the stock crashed more than 99.99%
"In order to protect our customers from the risks associated with some low-priced stocks, we remove the buy option for stocks like HMNY that consistently trade under $0.10," the brokerage said in an email to customers.
Shares of the embattled company briefly doubled to $2 before sinking back below the $1 minimum it has struggled with for months.
The company said in May that it had enough cash to last over a year — but it it admitted Friday morning it had procured a $5 million loan after a service interruption.
MoviePass’ parent company threw a Hail Mary to raise its stock price — but it already seems to be backfiring
HMNY gave investors 1 share for every 250 they previously owned, but the stock crashed as soon as it began trading Wednesday.
‘It is a full blown war going on’: The CEO of MoviePass’ parent company wants to use its subscribers as an army against traditional ...
"It's a fastest-growing paid subscription ever in the history of the internet. period, said the CEO of MoviePass parent company HMNY. "So you're not going to go through that without headaches."
Shares of MoviePass owner Helios & Matheson hit a record low on Monday. The company has issued a bunch of new shares in recent months, putting pressure on its stock.
MoviePass parent Helios & Matheson hit a new low on Wednesday. The company has seen its total shares outstanding soar by3,429% since August.
MoviePass owner Helios & Matheson hit a record low of $0.19 a share Wednesday morning. The company proposed a reverse stock split a week ago in order to remain listed on the Nasdaq.
The owner of MoviePass plunges after proposing a reverse-stock split to avoid being kicked out of the Nasdaq
In a regulatory filing Tuesday evening, the company announced a special shareholders meeting to convene in July in order to vote on four proposals to shore up the company's valuations to Nasdaq's standards. According to Nasdaq's listing rules, a company must maintain a share price above $1.00.