Helios and Matheson: MoviePass owner sinks after reverse stock split

Helios and Matheson Analytics

25/07/2018 18:56

** Helios and Matheson  HMNY.O  sinks ~40 pct after
MoviePass owner says a 1-for-250 reverse stock split was
effective markets close Tuesday  urn:newsml:reuters.com:*:nBw3DwlXla
    ** The reverse split pushed Helios' share price from 8.5
cents to $21.25, per TR data, which means it meets the Nasdaq's
listing rule for a minimum share price of $1
    ** HMNY's shares have lost nearly all their value as the
company burned through cash to support MoviePass operations
 urn:newsml:reuters.com:*:nL3N1SG5O2 urn:newsml:reuters.com:*:nL4N1TY4ML
    ** Indeed, MoviePass is considered a unicorn that jumped
into Wall St too soon  urn:newsml:reuters.com:*:nL1N1SA1SY
    ** HMNY's session high was $14.98 and session low was $12.21
vs adj close of $21.25
    ** Trading volumes are nearing 1.6 mln shares, far
surpassing their 25-day moving avg of ~164k

 (Reporting by Savio D'Souza)
 ((RM:savio.dsouza.thomsonreuters.com@reuters.net))