The owner of MoviePass just hit another record low

Markets Insider

• MoviePass owner Helios and Matheson just hit a record low.
• It has been hitting record lows a lot lately.
• The company itself is reporting has highlighted its cash burn as a concern.
• Watch HMNY trade in real time here.

Helios and Matheson, the embattled owner of MoviePass, keeps seeing its shares plummet into increasingly dangerous territory. The stock hit an all-time low of $0.46 a share Tuesday, down more than 98% from its all-time high of $32.90 set in October.

The recent turbulence for Helios and Matheson began in mid-April when its internal auditor said that there was "substantial doubt" the company would be able to stay in business. A few weeks later, the company said it now burns about $21.7 million a month, and that its shrinking cash pile is down to $15.5 million.

MoviePass' leadership has suggested the company will climb its way out of the hole by using its $300 million "equity line of credit."

The stock is down 93.39% this year.

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