MoviePass Streaming Speculation Gives Helios & Matheson Yet Another Boost
Helios and Matheson Analytics Inc (NASDAQ: 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. (NASDAQ: 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.
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