Parent company, the mouthful known as Helios and Matheson Analytics, is officially a penny stock now. Helios has moved to the over-the-counter market with the same stock symbol, HMNY, where it’s trading at a fractional $0.0081. The company is currently being investigated by the New York Attorney General’s office for misleading investors about MoviePass’ financial prospects. Unexpectedly, it also decided to expand and become film company. Last fall, Helios announced the creation a vertically integrated film production, marketing and exhibition group called MoviePass Entertainment, which would become the umbrella company for MoviePass.

Source: Forbes February 13, 2019 20:31 UTC