|Bid||0.0000 x 27000|
|Ask||0.0000 x 800|
|Day's Range||0.0025 - 0.0029|
|52 Week Range||0.0014 - 92.5000|
|Beta (3Y Monthly)||-1.32|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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In the latest MoviePass news, parent company Helios and Matheson Analytics (OTCMKTS:HMNY) sold a large chunk of its new shares to cover expenses related to the troubled cinema business, playing a role in HMNY stock losing more than half its value on Tuesday.Source: WikipediaThe IT service management business said in a press release today that it had raised $6 million in new financing. Raising the money required Helios and Matheson Analytics to sell roughly 60,000 new shares of preferred stock "Helios' Series B Preferred Stock," which the company said are "convertible to 1,000,020,000 shares of its common stock."The move is an extension of previous moves in which the business has sold large amounts of new stocks in order cover hundreds of millions in losses linked to MoviePass, which went under a few months ago, but the company has been attempting to revive in recent weeks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company's decisions have greatly diluted the value of shareholders' stake in the company. Helios and Matheson Analytics also recently amended its latest quarterly report for the period ending September 30, displaying a net loss of $138.6 million. The business said the net proceeds of the financing will be used to "accelerate MoviePass' product development, fine tune its subscription technology, and increase MoviePass Films' investment in new films."HMNY stock fell roughly 55.6% on Tuesday by closing time, with shares selling for less than a penny per share heading into Wednesday. More From InvestorPlace * 7 Marijuana Stocks to Play the CBD Trend * 10 Stocks on the Rise Heading Into the Second Quarter * 7 Beaten-Up Stocks to Buy as They Reverse Course Compare Brokers The post MoviePass News: Why HMNY Stock Is Nosediving Today appeared first on InvestorPlace.
MoviePass parent Helios & Matheson Inc. said Tuesday it raised $6 million in a new round of financing. The company said it plans to use the proceeds from the financing to support its MoviePass subscription business, including accelerating product development, improving its technology and increasing investment in new films. "We are building the infrastructure, data and tools that we believe will power the next generation of MoviePass," said Helios Chief Executive Ted Farnsworth. Under terms of the financing, Helios reached an agreement for the purchase of 60,000 preferred shares by certain institutional investors, which are convertible into about 1 billion shares of common stock and accompanying warrants to by about 60,000 preferred shares. Helios shares plummeted 37% in premarket trade, to below a penny. The stock has lost virtually all of its value over the past 12 months, while the S&P 500 has gained 5.3%.
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Some pretty shrewd moves by the country's leading multiplex operator played a part in the fade-out of Helios and Matheson's once-red-hot movie subscription service.
Helios and Matheson Analytics Inc., the parent company of MoviePass Inc., has been delisted from NASDAQ, the company disclosed in an SEC filing on Tuesday. The move follows months of wrangling with the stock market. Helios (NASDAQ: HMNY) shares closed at $2.95 on Aug. 15, 2017, when the company announced it was taking a majority stake in MoviePass and relaunching the program with an all-you-can watch movie subscription plan for $10 per month.