MoviePass Mania: Helios and Matheson Analytics Inc (HMNY) Stock Rising

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MoviePass’ continuous growth has seen investor Helios and Matheson Analytics Inc’s (NASDAQ:HMNY) skyrocket in recent months.

MoviePass

The company is reportedly in talks with a number of investors and investment banks over the possibility of increasing the MoviePas business even further. A March initial public offering may even be in the horizon, according to CEO Ted Farnsworth.

Helios and Matheson bought a majority stake in the online ticketing service, which charges users $9.95 a month to watch one movie per day in the theaters, potentially making it a cheaper alternative than online streaming services due to the fact that it offers a full cinematic experience.

The IT firm shelled out $27 million on Aug. 15 for the majority stake, which has helped HMNY shares rise by more than 1000% over that time. MoviePass has been all the rage over the past couple of months.

“We know it’s going to take a lot of capital but we also know that there’s a lot of people that understand the business model, the subscription side,” Farnsworth told Reuters in a telephone interview. “We are talking to several of them as we speak.”

Between mid-August and mid-September the number of MoviePass subscribers has surged from 20,000 to more than 40,000. It’s unclear how many people are using the service now, but it’s reportedly in the tens of thousands per day.

HMNY stock soared 19.7% Wednesday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/moviepass-helios-matheson-hmny/.

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