Share Price For Moviepass Drops $132, Now Trades At 5¢

Helios and Matheson, the company that owns MoviePass, the ailing movie theatre subscription service, posted a $126.6 million loss in the second quarter and its cash reserves have dwindled to $15 million. Share prices, which traded $39 per share, dropped to 8 cents a share in late July. Threatened with being delisted on NASDAQ, Helios and Matheson issued a 1-for-250 reverse split, which meant that shareholders received one share worth about $20 in exchange for 250 shares worth 8 cents a share. But that didn't stop the decline.

Topics:  july   nasdaq   cnn   earlier   mark twain   on wednesday   matheson   moviepass   helios   share price   split   worth   company   cents   million   shares   reverse   release   
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