The obituaries are in. No significant new press stories have been written in the past few days. There’s really nothing much left to be said.
The Moviepass product is now a strange shell of what made the product interesting in the first place. There’s little left the company could do to reduce the experience further, short of having no movies available at all, it’s now about as bare bones as you can get.
It’s especially odd, in that if Moviepass would have started out in the very low end space with a similar offer to what they have now, it maybe could have built it into a loyal cult following of theater lovers and cheapskates who were looking for a way to get a great deal on seeing a few movies a month.
But with the massive overpromise and under delivery of service, instead Moviepass has about a million consumer haters and thousands of burned investors who loath the company.
More important though the company has now been totally left for dead. The press has nothing left to say, even the mop up stories on how the company failed are getting old and tired now. The stock wipeout is complete but for .03 pennies.
Basically the disaster is done, like hurricanes Ivan, Katrina, Wilma and Dean – they are huge wipeouts that folks prefer to forget about and move on.
Now for Moviepass, what is left is some possibility of rebuilding. Maybe even a possible revenge to theaters and studios who shunned them and killed their potential.
But for now, it is just the silence after the storm. Counting the dead bodies and adding up the damage.
I have seen this with other stocks. Many regroup, find their niche and rise from the ashes. Others fade away forever to obscurity.
Moviepass I think will course for a mighty return. But it will take many months. For now it will sit lying, waiting for the next big dramatic move. It will strike out again I believe . I don’t see this company going quietly into the night.