Just like you, I have been thinking about the big stock price change in an important stock that many people are writing about on twitter. Of course, I am referring to the share price of MoviePass which dropped by another 50% just today. Let's unpack the comedic action together! 
Helios and Matheson (HMNY) (92% MoviePass owner) announced a 1-for-250 Reverse Stock Split. So 250 shares trading at ~$0.09 each were converted to one share worth ~$22.50, until the price dropped ~50% on the day. Also: authorized common stock was increased to 5B from 500M. Fun!
Movie Pass share count went from 268M to roughly 1.7M. 1.7M x $12= $20 million. Nasdaq’s chart can’t handle the change yet since it hasn’t adjusted shares outstanding: nasdaq.com/symbol/hmny/st… So on the usual suspects public web sites HMNY market cap now exceeds $3.2B. More fun!
"Theoretically there could be somebody stupid enough to go, 'Wow, it went from $0.09 to $12,” said a business school professor." MP's CEO told shareholders"Make no bones about it, it is a full blown war going on. Theaters don't like us because we're too powerful too quick."
MoviePass card holders at the 6:05 p.m. Saturday showing of "Mamma Mia! Here We Go Again" were required to pay an extra $4 even though the box office showed plenty of seats still available.” Surge pricing on Mama Mia! What will they think of next!cleveland.com/entertainment/…
Bottom line: What was trading at ~nine pennies yesterday is worth ~four and a half pennies now. Then adjust for 250 shares yesterday = one share now. Market cap may be less than cash on hand which is uncertain, just like whether subscribers will ever again not pay surge pricing!
Canaccord does not appear to have changed its target of $12 for HMNY. After the reverse split (250:1) that target is now $3,000. That's up just a bit from today's closing post reverse split price of $10.60.
