Robinhood shuts customers out of buying shares of MoviePass' parent company after the stock crashed more than 99.99% (HMNY)

Hollis Johnson/Business Insider

• Robinhood is suspending new purchases of Helios & Matheson, the parent company of MoviePass, after the stock's drastic 99.99% crash.
• "In order to protect our customers from the risks associated with some low-priced stocks, we remove the buy option for stocks like HMNY that consistently trade under $0.10," the company said in an email to customers.
• Follow HMNY's stock price in real-time here. 

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Helios & Matheson, the parent company of MoviePass', won't be getting any new investors on Robinhood.

The free stock-trading app said Monday that it would not allow users to buy shares of the company, but that they would still be able to hold and sell shares currently owned.See the rest of the story at Business Insider

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SEE ALSO: 2 Wall Street banks made millions selling the collapsing shares of MoviePass' parent company, as their analysts kept 'buy' ratings on the cratering stock