MoviePass Streaming Speculation Gives Helios & Matheson Yet Another Boost

Helios and Matheson Analytics Inc HMNY traded up as much as 24 percent Monday.

What Happened

MoviePass CEO Mitch Lowe intimated that the firm may someday stray from its core theater-based business.

“It may be that at some point we may launch a streaming service,” Lowe said during a late-afternoon interview on CNBC.

Netflix, Inc. NFLX shares dipped on the report but were soon on the rebound.

Why It's Important

Helios and Matheson's stock has been highly reactive to MoviePass news since it first took a stake in August. Shares spiked more than 1,000 percent on the initial report but ceded most of gains following a Citron Research short.

Most recently, Helios and Matheson catalyzed a run with announced stake increases.

The stock closed Monday up 20 percent at $12.33.

Related Links:

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