(Bloomberg) -- Helios & Matheson Analytics, the owner of Moviepass that offered theatergoers unlimited access for as little as $10 per month, is expected to delist from the Nasdaq at the end of the day today, according to Bloomberg data.
The delisting comes less than one month after Helios & Matheson filed for a spinoff of the subscription business that’s struggled to find a sustainable business model. Competition from AMC Entertainment Holdings Inc. and an investigation by the New York attorney general added further pressure to shares over the past year.
Shares traded over $8,000 since Helios purchased a majority stake in the service in August 2017 and prior to a 1-for-250 reverse stock split last summer. The company warned in December that it may have to delist due to its shares trading below $1 each.
Shares will continue to trade over the counter, according to data compiled by Bloomberg.
A spokesperson for Helios & Matheson did not respond to phone and email requests seeking comment.
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