MoviePass Runs Out of Money and Crashes
If your MoviePass didn't work Thursday night or if you've had continual problems since then, it's because they ran out of money. $5 million to be exact. MoviePass is a service that more than three million people use where they pay less than $10 a month and can watch any movie they want in theaters every day.
This all started after MoviePass' 1-to-250 reverse stock split earlier this week which was followed by a dramatic drop in value. MoviePass stock is down more than 50% and still dropping.