At the time, the HMNY CEO and several board members resigned. ![]() Investors also have received few updates from the company since Helios and Matheson filed for Chapter 7 bankruptcy in January 2020. We currently do not know who is running the MoviePass Ventures website, or what their plan is. Right now it is important to be extremely cautious. So what does this all mean for investors? Additionally, Helios and Matheson saw higher-than-average trading volume. HMNY stock closed at $0.0085, representing gains of 165% from its opening price of $0.0027 on Tuesday. This countdown clock has investors hoping for a comeback story. Additionally, former MoviePass CEO Mitch Lowe says he is not familiar with the countdown, and MoviePass social media accounts have been inactive since 2019. At the time of writing, the clock said “5 days and 4 hours” and shared a message that “the movie is about to start.” Investors should note that this site, MoviePass Ventures, is different from the original which still features the end-of-service message. Why? The social media speculation all comes back to a website featuring what appears to be a countdown clock for MoviePass. Now, investors think that MoviePass and HMNY stock could be coming back from the dead. Helios and Matheson filed for bankruptcy in 2020 after simply running out of cash. In September 2019, MoviePass called off service for its customers, citing a lack of capital. HMNY stock lost its Nasdaq Exchange listing, and now trades on the over-the-counter markets. As Rebecca Rubin wrote for Variety, $9.99 is less than the price of one ticket in most cities. Although popular with frequenters of movie theaters, Helios and Matheson struggled to make ends meet. ![]() The initial service allowed customers to see one movie per day for $9.99 a month. Charles Payne’s Smart Talk is absolutely FREE for a limited-time only.Source: James Andrews1 / įor those unfamiliar, MoviePass launched in 2017. I do know that HMNY stock will be a buy again soon, but we need to see the company earn its new valuation first.Ĭurious what Wall Street insider Charles Payne really thinks? Get more behind-the-scenes insights, valuable market research and hands-on guidance including live stock recommendations. I think they’ll get it eventually, especially as the core business is strong, but it’s too early and too difficult to gauge when and where to buy the inevitable pullback. Now that Helios and Matheson is on the map and it has made a lot of people fortunes not seen since the go-go days of the late 1990s, there will be an audience that’s looking for an encore. That doesn’t mean a few years from now this won’t be a stock worthy of a much higher valuation. I think the company is great, too, but the recent strength is just too much too soon. The CEO, Mitch Lowe, who is one of the founders of Netflix, Inc. (NASDAQ: NFLX), has appeared on my Fox Business show twice this year and I think he’s great. It has been a crazy ride, and because of that as well as the fact that HMNY stock has gone on a 700% run over the last couple of months, I can’t chase it at this level. Too Much Too Soon for Helios and Matheson ![]() However, they did manage to win back some ground. The big move in the early part of this month crushed these guys, and many started to blink. It’s now up only 32% within the past month rather than the colossal three-figure percentage gain seen earlier.Ī lot of the recent volatility has to do with the shorts, which account for about 20% of the public float. 11 - a 146% jump from the following Friday - before dipping into the end of the week. And it’s really been on a roller coaster ride in recent days.įor example, Helios and Matheson climbed as high as $38.86 on Oct. ![]() HMNY stock took off as a result of the announcement, climbing from prices around $2 all the way up into the $20 range in the following months. This is a breakthrough service, and for those of you who frequent the theaters, it’s quite a steal. At one point the subscription cost upwards of $50, but now it’s just $9.95 a month. MoviePass is a subscription-based online ticketing service that gives its customers access to 91% of movie theaters in the United States. 15, when it announced the purchase of a controlling stake in MoviePass for $27 million. The company really became relevant on Aug. That on top of its huge upside growth potential is what originally led my eye to HMNY stock. HMNY is a “Big Data” company through and through. Helios and Matheson is an information technology company, providing services like application value management, application development and other analytics services to clients in the financial services and healthcare industries. Before I explain why, let me first tell you a little bit about the company.
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