Helios & Matheson Giving Up Some Of Its Mysterious Gains

Helios and Matheson Analytics Inc HMNY shares are trading lower by $2.50 (18 percent) at $11.25. Investors are still trying to pinpoint how its merger with Zone Technologies has caused shares to move from its June 2 close ($1.11) to $17 on Wednesday.

After a lower open, it rallied and found resistance just above Wednesday's close ($13.75), reaching $13.91 before reversing course. The ensuing decline easily sliced through Wednesday's low ($11.91), reaching $10.72. It has rebounded and now attempting to remain in the $11 handle.