Why? The social media speculation all comes back to a website featuring what appears to be a countdown clock for MoviePass.
Now, investors think that MoviePass and HMNY stock could be coming back from the dead. Helios and Matheson filed for bankruptcy in 2020 after simply running out of cash. In September 2019, MoviePass called off service for its customers, citing a lack of capital. HMNY stock lost its Nasdaq Exchange listing, and now trades on the over-the-counter markets. As Rebecca Rubin wrote for Variety, $9.99 is less than the price of one ticket in most cities. Although popular with frequenters of movie theaters, Helios and Matheson struggled to make ends meet.
The initial service allowed customers to see one movie per day for $9.99 a month. Source: James Andrews1 / įor those unfamiliar, MoviePass launched in 2017.
