Helios and Matheson Analytics (NASDAQ:HMNY) stock was plummeting today after experiencing troubles over the weekend.
The troubles plaguing Helios and Matheson Analytics over the weekend were in connection to MoviePass. There were interruptions of the service over the weekend due to what the company calls “technical difficulties.”
One problem with MoviePass may not have been enough to send HMNY stock falling, but this was the second time in one week that such an issue had occurred. The first problem took the service down on Thursday and Helios and Matheson Analytics had to borrow money to get it up and running again.
While it still isn’t known what caused the second outage last week, it doesn’t look good for the company after the movie MoviePass outage. There have also been complaints from subscribers about this service. This includes still having to pay surcharges on weeks-old movies and those not showing at premium times, reports Business Insider.
The troubles for HMNY stock also come after the company announced a reverse stock split last week. This was a 1-for-250 reverse stock split that was seeking to boost the stock above the $1 price minimum for NASDAQ listing. It caused the stock to jump to $22.50 when it occurred.
HMNY stock has continued to fall ever since that reverse stock split last week. The other issues that the company has been facing hasn’t helped the matter, either. As of noon Monday, HMNY stock was down 41%.
As of this writing, William White did not hold a position in any of the aforementioned securities.