Market Overview

MoviePass Streaming Speculation Gives Helios & Matheson Yet Another Boost

Share:
MoviePass Streaming Speculation Gives Helios & Matheson Yet Another Boost
Related HMNY
Helios And Matheson Again Warns There's 'Substantial Doubt' It'll Be In Business Next Summer Without More Cash
MoviePass Walks Back Subscription Price Hike, Limits Customers To 3 Movies Per Month
Shareholders Who Oppose Dilution Should Oppose Helios And Matheson's Split (Seeking Alpha)

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.

Related Links:

How Does Helios And Matheson Make Money From MoviePass?

‘All Timing’: Citron Covers Helios And Matheson Short

Posted-In: Citron Research CNBC Mitch LoweNews Short Sellers Movers Tech Media Best of Benzinga

 

Related Articles (NFLX + HMNY)

View Comments and Join the Discussion!

After GE Slashes Its Dividend, Who Will Be Next?

Blue Apron, Yogaworks Race To The Bottom Of 2017's IPO Heap