Helios and Matheson Analytics Inc (NASDAQ: HMNY) is having an incredibly strong start to the trading session in the pre-market hours this morning, and for good reason. The company announced news with regard to subscriber growth that’s leading to excitement among investors. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to HMNY ahead.
HMNY Gains On Subscriber Growth
As mentioned above, Helios and Matheson Analytics is having an incredibly strong start in the pre-market hours today, and for good reason. The company announced subscriber growth that is happening at a rapid rate. In fact, in a press release issued early this morning, the company said that its subscriber base has increased to 1.5 million subscribers. That’s incredible news considering the fact that HMNY just announced that it reached 1 million subscribers about a month ago. In a statement, Ted Farnsworth, Chairman and CEO at HMNY, had the following to offer:
“MoviePassTM is attracting people back to the movie theaters by lowering their cost, which we believe is transformational for the industry… We believe the data MoviePass collects from these million and a half movie-goers will become an important asset to our partners and the future of the movie industry.”
What We’re Seeing From The Stock As A Result
As investors, one of the first things that we learn is that the news causes movement in the market. In this particular case, the news surrounding Helios and Matheson proved to be overwhelmingly positive. As a result, we’re seeing an overwhelmingly positive reaction in the market. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:47), HMNY is trading at $7.49 per share after a gain of $0.57 per share (8.24%) 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 the continued growth of MoviePass. We’re also interested in following the company’s plans with regard to opening up multiple lines of revenue through the service. For example, Helios and Matheson plans on selling data and advertising to the producers of movies, restaurants, and services like Uber and Lyft as it works to put together the ultimate movie night experience for its subscribers. While some may be downplaying the potential here, between the subscriber revenue, advertising revenue, and data sales, this could prove to be a massive win for HMNY and all involved. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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