Helios and Matheson Analytics Inc (NASDAQ:HMNY) stock was surging today following comments about its interest in cryptocurrencies.
During a recent interview, Helios and Matheson Analytics Inc CEO Ted Farnsworth said the company has an interest in its own blockchain efforts. The CEO said that the company has been investigating the technology for more than a year.
Farnsworth notes that the company has been speaking with its attorneys about the possibility of blockchain. However, the Helios and Matheson Analytics Inc CEO has concerns about such an effort. He says he doesn’t want it to be a “flavor of the day,” but still wants to follow SEC regulations.
It isn’t just Helios and Matheson Analytics Inc that has an interest in blockchain. MoviePass CEO Mitch Lowe also thinks that launching a cryptocurreency could be a good idea for the company. HMNY owns MoviePass.
More companies are interested in jumping on the blockchain bandwagon as it continues to remain popular with investors. A recent example of this is Eastman Kodak Company (NYSE:KODK). It just announced that it has plans to launch a blockchain platform and its own virtual currency at the end of the month.
Another company that recently decided to switch focus to blockchain is Long Blockchain Corp (NASDAQ:LBCC), which was formerly Long Island Iced Tea. The switch occurred in December as the company announced a shift in focus that will have it working more on cryptocurrency than beverages.
HMNY stock was up 23% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.