MoviePass’s parent company is in dire danger of having its stock delisted by the Nasdaq (HMNY)

PARK CITY, UT - JANUARY 20: CEO of MoviePass Mitch Lowe attends 'An Evening with Beverly Luff Linn' Dinner presented by MoviePass on January 20, 2018 in Park City, Utah.

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  • The Nasdaq warned MoviePass’s parent company that it would move to delist its stock as soon as December 28.
  • Shares of Helios and Matheson have traded below $ 1 a share for nearly the entire time since May, violating Nasdaq’s listing standards.
  • The company had until Tuesday to boost its stock price above that threshold, but failed, and the Nasdaq doesn’t think it will be able to ever do it.
  • Helios and Matheson plans to appeal the decision, which would delay and possibly avert the delisting.

The parent company of MoviePass may soon no longer have its shares trading on the Nasdaq market.

The Nasdaq warned Helios and Matheson on Wednesday that it plans to suspend trading in the company’s shares on December 28 and will move to have them delisted, Helios and Matheson disclosed Friday in a document filed with the Securities and Exchange Commission. The company plans to delay and potentially head off the delisting by appealing the exchange’s decision.

See the rest of the story at Business Insider

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SEE ALSO: MoviePass’ parent company has boosted its share count by an unbelievable 80,000% since July — but it’s run out of room to issue new stock

Post Author: martin

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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