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54

MoviePass suffers outage because it ran out of money, stock falls 70% in one day

Most of our readers should probably be familiar with MoviePass—if not for the company's movie ticket-accessing subscription service, at least for its presence in the news for the last few days. If you'll recall, MoviePass owners Helios and Matheson Analytics Inc. recently performed a reverse-split for the company's shares to drive up stock prices, but not with much success. More recently, everyone's favorite $6.95 a month service ran into a bit of a snag last night, resulting in a date night-stopping outage. Turns out, that's because the company literally just ran out of money. After borrowing $5 million to turn the lights back on, stock for the parent company took a nosedive to $1.98 (at the time of writing), down 70% over the last 24 hours. 

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89

Amazon tops Google to become the second most valuable company in the world

 

Amazon has just overtaken Alphabet, Google's parent company, to become the second most valuable company in the world, with a current market capitalization of 768 billion US dollars as of today's closing bell. Alphabet, which is presently valued at $761 billion, had consistently held the second position to Apple, valued at $889 billion, since around 2016.

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