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MoviePass parent Helios & Matheson's stock to be delisted at the open, and the company won't fight it

Tomi Kilgore

MoviePass parent Helios & Matheson Analytics Inc.'s stock will be delisted from the Nasdaq Capital Market, with the suspension of trading effective at Wednesday's open. The stock will be eligible for trade in the OTC Markets system, under the ticker symbol "HMNY." The company had initially received a delisting notice in December, given that the stock failed to maintain the minimum $1.00 bid price, which the company appealed. The Nasdaq panel determined on Feb. 11 to delist the stock. Helios & Matheson has 15 days to request the Nasdaq Listing and Hearing Review Council to review the panel's decision, but the company said it doesn't plan to appeal the determination at this time. The company plans to apply to have its shares quoted on the OTCQB Market. The stock has lost virtually all of its value over the last year, as it closed at a split-adjusted price of $1,357.50 on Feb. 13, 2018. The S&P 500 has gained 3.1% over the past year.