Helios and Matheson Analytics Inc (NASDAQ: HMNY) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The gains are the result of an interview on Yahoo! Finance, during which the CEO of MoviePass mentioned something about an ICO. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for ahead.
HMNY Gains On Consideration Of Cryptocurrency
As mentioned above, Helios and Matheson Analytics is having an overwhelmingly strong start to the trading session today after Ted Farnsworth and Mitch Lowe were featured in an interview with Yahoo! Finance. In the interview, a question with regard to cryptocurrency and blockchain was asked.
Essentially, the CEO of HMNY and the CEO of MoviePass were asked their opinions with regard to the blockchain and whether or not they would consider launching an ICO. In their response, they made it clear that this is something that the company has been considering for some time. In fact, “We’ve looked at that technology for well over a year now,” was a key response in the interview.
Essentially, as a result of this interview, many are now speculating that HMNY will indeed break into the blockchain with MoviePass and launch a cryptocurrency of their own. The only delay is essentially regulation and figuring out the logistics of the move from a legal and consumer stickiness standpoint.
Helios and Matheson Analytics have been in the news quite a bit as of late. With the announcement about a month ago that MoviePass had surpassed 1 million subscribers and another announcement just days ago that the service had surpassed 1.5 million subscribers, excitement surrounding the stock is running high.
What We’re Seeing From The Stock
At the end of the day, one of the first things that we learn when we start to dabble in the market is that the news causes movement. Recently, blockchain related news has caused massive moves in the market. So, it’s no surprise that with the potential entrance into the world of blockchain, it only makes sense that we’re seeing strong gains in the value of the stock. At the moment (9:26), HMNY is trading at $9.75 per share after a gain of $2.59 per share (36.17%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on HMNY. In particular, we’re interested in watching to see what the company does in the blockchain space. We’ll also be watching the ongoing and tremendous growth of the subscriber base on MoviePass as well as the company’s plans to monetize the service beyond subscription fees. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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