Helios and Matheson Analytics (OTCMKTS:HMNY) stock is making a surprise return to the news cycle Wednesday as investors prepare for an announcement from the company.
Helios and Matheson Analytics was the owner of MoviePass and may be preparing for something major with a countdown. The details are still unknown but the countdown is set to end in about five days.
The MoviePass countdown has investors taking an interest in HMNY stock today. As of this writing, more than 349 million shares of the stock have changed hands. That’s a massive spike compared to its daily average trading volume of 71.8 million shares.
Investors that are new to HMNY stock will need to know more about the company. That’s where the breakdown below comes into play.
- Helios and Matheson Analytics is the parent company of MoviePass and went through a rough patch last year.
- The company ended up filing for bankruptcy in January 2020 with plans to liquidate its assets.
- That also saw HMNY stock delisted from the Nasdaq Exchange and make its way over to OTC Markets.
- There’s not been much news from the company since then and it’s unclear if it has a role in the new MoviePass countdown.
- It’s completely possible that Helios and Matheson Analytics won’t be making a grand return anytime soon.
- Instead, it could be that another company bought MoviePass during the liquidation and is behind the countdown.
- If so, investors shoring up shares of HMNY stock expecting major news of a revival could be left holding the bag.
HMNY stock was down 12.9% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.