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You know the drill.

Before you head home, or head out, check out the top stories from the street on Friday, July 27.

Is Helios & Matheson Edging Closer to Bankruptcy?

The parent company of MoviePass had a reported outage on Thursday night, leaving customers without a way to see a movie. Uh-oh. The company disclosed in an SEC filing that the MoviePass outage was caused by it running out of funds and was forced to borrow $5 million to resume operations.

But, that's not all. According to TheStreet's intern, Taylor Nicole Rogers, Helios and Matheson Analytics Inc. (HMNY)  lost more than half its value in midday trading Friday, following the admission.

"The $5.0 million cash proceeds received from the Demand Note will be used by the Company to pay the Company's merchant and fulfillment processors," the filing said. "If the Company is unable to make required payments to its merchant and fulfillment processors, the merchant and fulfillment processors may cease processing payments for MoviePass, Inc. ('MoviePass'), which would cause a MoviePass service interruption. Such a service interruption occurred on July 26, 2018."

Earlier this week, Helios and Matheson voted for a reverse stock split. The split boosted shares to $20 when the market opened on Wednesday, July 25. However, it caused shares to plummet.

On Friday, shares of Helios and Matheson were down nearly 70% to $2.

Twitter's Free-Falling

It's just not a good week for social media.

A day after Facebook stunned investors with one of the worst market days in recent history, Twitter Inc. (TWTR) - Get Twitter Inc. Report is following suit.

The social media giant reported earnings Friday morning. While the company beat on revenue and EPS, the biggest hit was from its monthly and daily active users. 

In the second quarter, monthly active users fell more than 1 million from the first quarter. While reports floated around that the lower number was due to Twitter's attempt to clean up the platform, the earnings release begged to differ.

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"When we suspend accounts, many of the removed accounts have already been excluded from MAU or DAU, either because the accounts were already inactive for more than one month at the time of suspension, or because they were caught at signup and were never included in MAU or DAU," Twitter said in a press release. "We will continue to work hard to improve the health of the platform, providing updates on our progress at least quarterly, and prioritizing health efforts regardless of the near-term impact on metrics, as we believe the best driver of long-term growth of Twitter as a daily utility is a healthy conversation."

TheStreet's Chris Nolter reported Twitter purged tens of millions of accounts according to CFO Ned Segal. 

Engagement of Twitter's base actually grew, however, as the number of daily average users increased by 11%. Twitter does not disclose the absolute number of DAUs.

Twitter was down more than 19% as the market went into the close.

Facebook's Still Shook

Just days after hitting a fresh all-time high, Facebook Inc. (FB) - Get Meta Platforms Inc. Report saw its stock drop almost 19%, losing $120 billion in market capitalization in the process and earning the dubious record for the worst one-day loss in market value in U.S. stock market history on Thursday, July 26.

Facebook's setback comes after a period when technology stocks have been hitting new highs, helping push the Nasdaq Composite Index up 14%, to 7868.37 year to date.

Analysts lowered price targets for Facebook in the wake of the news, but in general recommended it as a buy. 

"We ultimately believe the advertising revenues and underlying monthly and daily average user metrics were 'good enough' and show the worries of a massive fundamental and user deterioration at Facebook post Cambridge was more bark than bite," wrote GBH Insights analyst Daniel Ives, who gave the stock a "highly attractive rating."

Mark Zuckerberg himself reportedly lost around $15 billion during the dark day for Facebook.

If that isn't incentive to find a more lucrative plan, I don't know what is.

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That's a wrap for this week. Check back in next week as TheStreet tackles Apple's and Tesla's earnings.