MoviePass IPO, is the Future of Movie Theater’s Dead, Why The Movie Pass Market Cap Fell All The Way Down to Just $1,000,000.00
Although MoviePass was ruled as entirely defunct on January 28, 2020, their parent company actually still has a market value of just $1,500,000, with just fractions of a cent as its current stock price. Yes the MoviePass IPO was definitely an incredible company idea, however with Netflix in the ring, and with what would have eventually been nearly every single movie theater going bankrupt or at least shutting down for quite a bit, MoviePass was quite literally dead in the water before it even began. This blog post will look at the MoviePass IPO, why it failed, and why it definitely would’ve failed in 2020, had it not completely failed in 2019. Ironically, January 28, 2020, as the final day that they became defunct and closed their doors, was literally just as the coronavirus pandemic was starting to ramp up, it’s crazy to think that this stock completely died out even BEFORE a massive pandemic wave came that literally blocked movie theaters for the next five years, I guess it would’ve happened anyways. For more information, read on or subscribe to our blog!
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MoviePass IPO, Why The Company Went Bankrupt Pre Coronavirus
So, the gist of why the MoviePass IPO never really came to pass, and why the company was fully defunct and bankrupt before the Coronavirus really even started, is that Netflix absolutely demolished their business model, and in fact even before movie theaters were entirely closed, they completed beat out their competition. The MoviePass CEO severely underestimated how much people would’ve liked to go to Movie Theaters in bulk, as people chose the Netflix business model of being able to watch whatever you want, whenever you want, MoviePass is currently sitting on a measly stock price of $0.005, just half a cent, with a current market cap of $1,500,000.00…I have people at my job that have more money than that in their bank account currently…at least as far as I know. In short, MoviePass lost the war, they will be forever missed and may they rest in peace.
Final Thoughts on the MoviePass IPO, And Why Their Parent Company is Now Entirely Defunct and Bankrupt
The MoviePass IPO was an epic failure, and it is surprising to me that quite frankly their parent company, known as Helios and Matheson Analytics, is still a publicly traded company with a market capitalization of just $1,500,000.00, again I’m pretty sure my parents have this much money, not to brag, but it is a laughable figure for a publicly traded stock company to have as its market capitalization. What did you think of the movie Pass Initial Public offering, and did you think it was as laughable as we did? Comment down below to let us know and be sure to subscribe to our blog for tons of daily finance updates!
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