Helios and Matheson Analytics Inc (NASDAQ: HMNY) is having an overwhelmingly strong day in the market today, and for good reason. It seems as though investors are starting to pay attention to the exponential growth the company is seeing with regard to its user base. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:24), HMNY is trading at $7.73 per share after a gain of $1.87 per share (31.98%) thus far today.
HMNY Gains As User Growth Soars
As mentioned above, Helios and Matheson Analytics is having an incredible day in the market today after the company recently announced massive growth in its user base. The company is a leading independent equity research and corporate access firm that provides information technology services and solutions ranging from big data to artificial intelligence, social listening, and consumer-centric technology.
Pretty recently, HMNY announced that it would be acquiring a majority interest in MoviePass, a system that enables subscribers to see unlimited movies in theaters for a small monthly fee of just $9.95. Days ago, it was announced by HMNY that subscriptions have grown from around 20,000 to over 400,000 since the acquisition.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on HMNY. In particular, we’re interested in following the growth surrounding MoviePass as the company seems to be doing overwhelmingly well at the moment. On top of that, we’re also going to be watching RedZone Map very closely, as the product has tremendous potential to be a massive driver of revenue moving forward. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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