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The Owner of MoviePass Plunges After Proposing a Reverse-Stock Split to Avoid Being Kicked Out Of The Nasdaq

Business Insider
  • MoviePass owner Helios & Matheson plunged to a new low after proposing a reverse-stock split.
  • The move could help the company maintain Nasdaq's minimum $1 share price and avoid delisting.
  • "The failure of stockholders to approve this Proposal 3 could have serious adverse effects on the Company and its stockholders," the company said in a regulatory filing...
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