MoviePass' parent company is getting crushed after selling shares at massive discount (HMNY)
Markets Insider
- MoviePass' parent company, Helios & Matheson, lost 40% in trading Thursday.
- The company said late Wednesday it had sold millions of shares at a hefty discount.
- Its losses come just days after its auditor said there's "substantial doubt" about its ability to stay in business as it reported a $150.8 million loss.
- Follow HMNY stock in real-time here.
Shares of Helios & Matheson Information Technology, the parent company of MoviePass, sank more than 40% Thursday after the company announced it sold new stock at a hefty discount.
Helios & Matheson said in a regulatory filing late Wednesday that it had sold 10.5 million shares at a price of $2.75 — a hefty 28% discount form its closing price earlier that day of $3.83. When markets opened Thursday, the stock's price tanked.See the rest of the story at Business Insider
NOW WATCH: Wall Street's biggest bull explains why trade war fears are way overblown
See Also:
- The 18 shows Netflix has canceled, including recently cut drama 'Seven Seconds'
- Norwegian teens celebrate a bizarre, month-long holiday full of drinking, sex, and wild dares — here's what it's like
- 'Almost everyone' in a photo of Southwest's emergency landing wore their oxygen mask 'wrong,' says a former flight attendant