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CEO of MoviePass' parent company had $7.25 million in stock that's now worth less than $50

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The CEO of MoviePass' parent company had $7.25 million in stock that's now worth less than $50. via CNBCMakeIt

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MakeIt The sad reality of wrong decision and deception.

MakeIt And you think that start-up’s valuation is going to hold that level? Hahahahhahaha

MakeIt How do families even afford to go to movies anymore? My husband & I went to see “The Mule” last week, enjoyed the movie. Point being, we got Senior Discount. $15 for tickets, $20 for popcorn & drinks. How do young people on date or family of 4 afford?

MakeIt And here I thought my 401k was looking rough.

MakeIt This is why I follow CNBC. I don’t want to miss out on important news like this. Thanks.!

MakeIt

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After losing 99% of its value, MoviePass' parent company is getting ready to ask shareholders to support its CEO and approve his payHowever, Helios and Matheson — which bought MoviePass in mid-2017 — declined to try again to get investors to approve a reverse stock-split proposal. What for exactly! How is moviepass still alive...
Source: BusinessInsider - 🏆 729. / 51 Read more »