MoviePass Parent Schedules Second Reverse-Stock Split Vote

Helios and Matheson Analytics, parent of fiscally-challenged theatrical subscription ticket service MoviePass, Jan. 30 announced it plans to hold a special shareholder meeting March 15 in Los Angeles to vote on a second reverse stock split.

The proposed one-share-for-500 shares, which if passed would affect shareholders of record on Jan. 16, follows a previous reverse stock split (1-for-250 shares) eight months ago.

That split resulted in the HMNY stock briefly reaching $22.50 per share, before plummeting below Nasdaq’s $1 minimum threshold in less than a week. HMNY’s stock currently trades at about a penny.

The company in November canceled a vote for the second split after it couldn’t muster enough shareholder support. Apparently that sentiment has changed.

HMNY has until the summer to regain compliance or face the risk of delisting.

 

 

One thought on “MoviePass Parent Schedules Second Reverse-Stock Split Vote”

  1. Sentiment hasn’t changed for this shareholder. No way will I support a stock split. They haven’t fixed the real problems and a stock split is conceivably going to result in people’s investment being wiped out. Fix the company first. Get the stock price over $1 yourselves and prove you can keep it. Then look for a stock split.

    The fact that they’re looking for a stock split again before actually fixing anything (operations, leadership, communication, customer service, profit, loss, perception, value, and the list goes on) shows they’re just setting investors up for an obliteration of their investment. Add mismanagement to an increase of competitors who are doing it right, for example AMC, and it doesn’t look good.

    If this company spends money now (again) on a PR campaign or consultants to try to push this idea of a stock split being good or needed on the shareholders, then it’s more hopeless than I care to accept.

Leave a Reply

Your email address will not be published. Required fields are marked *

nineteen + 18 =

This site uses Akismet to reduce spam. Learn how your comment data is processed.