• The selling comes after the company announced an alarming cash burn on Tuesday.

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MoviePass owner Helios & Matheson Analytics (HMNY) is crashing Wednesday, down more than 30% to an all time low of less than $1 a share. The heavy selling is a continuation of Tuesday's plunge that developed after the company said it was burning through cash. Shares have lost more than 50% of their value since Monday's close.

The company said in an 8-K filing Tuesday that it had "approximately $15.5 million in available cash and approximately $27.9 million on deposit with our merchant processors for a total of approximately $43.4 million." It estimates that its seen an average cash deficit of $21.7 million per month from September to April.

HMNY shares have plunged more than 85% this year.