Shares have since plunged further and are now below $1, hitting an all-time low of $0.56. Shares crashed more than 30% on that revelation. The company revealed earlier this month that it was burning $21.7 million a month, and it said it was down to just $15.5 million in cash. Shares of Helios and Matheson (NASDAQ: HMNY) have soared from 2.50 to 32.90 in that time, a scintillating 13-bagger that some investments take a lifetime to achieve. CEO Stacy Spikes, who co-founded MoviePass in 2011, left the company after it was acquired by Helios & Matheson in 2017 and bought the company back last year, said in an email that users who get. Helios and MoviePass The news followed a reverse stock split which boosted the price of shares from 8 cents to 21, seen by some as an attempt to prevent the. This is surprising, considering the narrative around Helios and Matheson of late. That puts it among the 32 most owned names on Robinhood. Almost 32,000 users own the stock now, a roughly 7,000-person (28%) increase from a week ago. Robinhood, a free trading app popular among millennials, found that people on the platform bought more Helios and Matheson stock last week than bought stock of any other company in the platform's top 100. The stock, which was once worth $35 a share, is now struggling just to get back to $1. That stands in contrast to recent comments - including from the company's auditor - that it could be headed for bankruptcy. The stock price of its owner, Helios and Matheson. They are loading up on stock in MoviePass' owner, Helios and Matheson, even as the company's share price plunges into catastrophic territory. While new ventures often lose money, the financial position of MoviePass seems extraordinarily shaky. In February, NBC News reported that Spikes said he wants MoviePass to be responsible for 30% of all movie ticket sales across the United States by 2030.Millennial investors are defying Wall Street. Additionally, Helios and Matheson saw higher-than-average trading volume. This adjusted the stock’s closing price for the day from 8.5 cents to 21.25, but it was back down to 0.496 as of 3:55 p.m. movie ticket subscription service owned by data company Helios and Matheson Analytics Inc, offers a cautionary tale of the dangers of a. It remains to be seen how popular the new MoviePass will become, but Spikes has ambitious plans for his service. HMNY stock closed at 0.0085, representing gains of 165 from its opening price of 0.0027 on Tuesday. In its new incarnation, the debit card will be black instead of red, Business Insider reports.ĬEO Stacy Spikes, who co-founded MoviePass in 2011, left the company after it was acquired by Helios & Matheson in 2017 and bought the company back last year, said in an email that users who get on the waitlist will each receive 10 friend invites that they will be able to use once they sign up for the service.įor now, only those who get on the waitlist or receive an invite will be able to join MoviePass. ![]() ![]() Users will still receive a MoviePass-branded debit card. The prices will range between $10, $20 and $30, though there is no indication yet of how many movies users will be able to see each month. When it relaunches, the subscribers to the new MoviePass will have the option to sign up for different price tiers, depending on where they live, Business Insider reports.
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