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