Getty Images and AARP present the Disrupt Aging Collection, a searchable photo collection that redefines what it means to get older. Take a look.

Reply
Treasured Social Butterfly
1
Kudos
82
Views
0
Replies

Movie Pass Stock Plunges 50%

82 Views
Message 1 of 1

This isn't how they drew it up.

One day after the parent company of MoviePass announced a drastic effort to boost its stock price from 8 cents to $21, the price of the stock immediately tanked.

 

Shares of Helios and Matheson (HMNY) started plunging as soon as the market opened Wednesday. The price eventually closed at $10.60 per share, a drop of more than 50%.

 

The company on Tuesday said it would approve a 250-for-1 reverse stock split, an attempt to keep it from falling off the Nasdaq stock exchange. Investors have grave doubts about the viability of its signature product MoviePass, the service that lets you see a movie every day for $10 a month.

 

The reverse split was a largely cosmetic change for shareholders, since their stakes are valued the same afterward. But because the price was so cheap, the stock was in danger of being delisted from the Nasdaq stock exchange.

 

Source - https://money.cnn.com/2018/07/25/news/companies/moviepass-helios-matheson-stock-split/index.html

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

Report Inappropriate Content
1
Kudos
82
Views
0
Replies
cancel
Showing results for 
Search instead for 
Did you mean: 
Users
Announcements

Are you new to the online community? Say Hi and tell us a bit about yourself, your interests, and how we can help make this community a great experience for you!


close-up group of seniors smiling at camera

Top Authors