MoviePass' Owner Helios & Matheson Enter Red Zone

MoviePass owner Helios & Matheson appears to be circling the drain. Business Insider reports shares are down about 25% on Wednesday, and trading at a record low of $0.19 apiece, marking the fourth straight day of declines. Last week, the company proposed a reverse stock split in an effort to boost its share price above the Nasdaq's minimum requirement of $1. The failure to reclaim that level would eventually lead to its delisting.