DJariya

The stock is down to about 25 cents right now.

Remember with the adjustment due to the stock split this is technically way way under a penny.

The ship keeps sinking

fujishig

Time to buy, right? I think I have some change in my pocket...

dex14

Maybe instead of paying $14.99 for the subscription, you can just buy the company.

Noonan

Brian T

States the obvious, I suppose . . .

https://variety.com/2018/film/news/m...ce-1202891561/

Abob Teff

It is the equivalent of 1/10 of a cent per share before the split.

fujishig

Market cap is 533K, and their YTD performance is -99.98% The opening at 58 cents looks like a mountain. Just think, if they didn't do the split, they would at least have like 5x their current value, assuming you can't trade stock for less than a penny.

Abob Teff

This is actually what is surprising me right now considering the assets of Helios and Matheson — remember, we are not just talking about MoviePass operations when we talk stock. I can’t believe some vulture isn’t circling the rotting carcass. At the existing share price, it would be a steal to scoop the company up and sell off the parts.

I suppose the problem with that is that too much of the stock exists in too few hands (with too big egos) to be able to get it away from them.

fujishig

Wouldn't you be saddled with the debt and commitments that moviepass has, though? Isn't it better to just pick off the pieces at auction?

I know people were earlier asking for someone like Elon to save them, but it's basically just giving away money or ticking off what little userbase they have left by trying to turn a profit.

fujishig

Even with the current restrictions, the subscription is a better deal.

DJariya

https://deadline.com/2018/08/moviepa...nk-1202437996/

Apparently they paid back their emergency loan.

DJariya

Shows how mature this company is. Posting Memes to show they’re still alive

Why So Blu?

^ Same thing can be said about rival brokering agencies (not even direct competitors) hosting contests with celebrities about MP's demise.

Tomato, tomatoe.

Noonan

We're just getting started....

...with laundering any investor money that's left and transferring it to our off shore accounts.

d2cheer

I haven't been following this whole saga but read a small article on another site that stated their stock was about $30+ several months ago. Can someone summarize this downfall?

Noonan

They basically just ran out of money because people were actually using the service and going to see movies. They pay full retail for each ticket so a person would only need to see 2-3 movies a month for them to be in the red with that subscription. Recently they started blacking out movies/prime time shows/full theaters and the stock took a complete nose dive.

dex14

These people are tone deaf...


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Decker

Do you have DJariya on Ignore?

Cardsfan111

Just trying to utilize this service at all is becoming a pain. My closest theater show Hotel Transylvania 3 available now and at a showing after 9 p.m. Any showing around 7 has been removed. I check an AMC theater 20 minutes away and there's no listing for it at all (it is playing there). I look at another theater 30 minutes away and it's listed again but with an early and late showtime.

jpcamb

I find it interesting that in Dex's post the gif/image has the guy at an upper position on the rings and you can only see the rings on DJariyas...

Noonan

It sounds like they're working with theaters in the background to get deals on tickets for off hour shows and only offering up those to customers to help recoup their losses. Otherwise, why black out anything? Tickets are the same price regardless.

fujishig

I really doubt that, if only because there's no way AMC would play ball with them, and AMC theaters have weird showtimes listed too. More likely that they use some kind of throttling mechanism that allows a certain allotment at certain times and once that's out, they remove the listings, leaving only stuff that is super inconvenient for most people.

Noonan

Good point. They could just be offering shows they think people won't go to at all due to the location or time.

Either way, they're screwing over their customers to try to salvage their dumpster fire of a business.

kenbuzz

Here in Bloomington it's business as usual. No blacked-out showings. No surge pricing. In fact, except for the Mastercard outage last week, I've not seen any restrictions on anything at all. Well.... I can't book MI:Fallout. There's that. But heck, I've seen the trailer for that so many times this Spring/Summer - it's run before just about *every* film I've seen since I signed up for Moviepass - that I feel like I've already seen it. Lol.

I paid $115 for a year back in February. I've seen 13 movies, each one ticketed at $10.59 or $9.59, depending on which AMC I went to, so I'm already beyond the break-even point. I was hoping the service would last for a full year, and I'll try to see 1-2 more films before MP goes under, but I'm satisfied with the value I received and will be sad to see it go.

Noonan

You're satisfied with the value because their business model was "offer something not sustainable and hope people sign up but never use it." Sounds like you made good use of it, as well as many other subscribers. Otherwise, they wouldn't be cash poor.