Helios and Matheson Analytics: Tanks on MoviePass service interruption

Helios and Matheson Analytics

27/07/2018 16:41

** MoviePass owner's shares  HMNY.O  plunge as much as 52
pct to record low of $3.25 
    ** Says an interruption to its MoviePass service occurred on
July 26 as co was unable to make payments to its merchant and
fulfillment processors (https://bit.ly/2K6eTfq)
    ** Co borrowed $5 mln in cash from hedge fund Hudson Bay
Capital to pay its processors
    ** Says such an interruption of service would have an
adverse effect on co's results
    ** Stock trading below 200-DMA since Feb 2018; Top pct loser
in Nasdaq Computer Index  .IXK 
    ** As of June 29, HMNY's short interest - 21.1 pct 
    ** Stock slumped ~100 pct YTD compared to 31.07 pct rise in
 .IXK 

 (Reporting by Divya R in Bengaluru)
 ((divya.renganathan@thomsonreuters.com))