The stock is currently at 19 cents with a market cap of $43m, and only that high because they have released over 180m shares into the market over the past 30 days to desperately fund continuing operations. They are asking shareholders to vote in 2 weeks to let them release an addition 2 BILLION shares to keep funding this insane Robin Hood scheme, meanwhile the stock is dropping 8-15% every day. Its only a matter of time they run out of options to keep basically taking money from Wall Street and handing it over to theaters by way of consumers like us watching a movie.
So yeah, this surge stuff is great but its far too little, too late, and still doesn't fundamentally fix the problem of the second a customer buys a ticket MoviePass is losing money on that customer.
