"For the past several months, MoviePass has been working hard to improve our groundbreaking subscription service to ensure it meets the vision that we have for it," the company wrote on its website. "We are temporarily not accepting new subscribers as we work on these improvements."
A similar statement is on its mobile app. The message says it's working to improve the app, but doesn't say when it will be available again. On Twitter, the company responded to user questions saying the "process will take several weeks."
Of course it will. On one hand, I'm sort of impressed that they're still alive at all one year after I wrote this post about the very clear house of cards situation. On the other, the stock, which was at .255/share back then is now at .0027/share. That's not a typo. The market cap of the (holding) company is $5 million. Five Million Dollars.Read more...