2 Wall Street banks made millions selling the collapsing shares of MoviePass’ parent company, as their analysts kept ‘buy’ ratings on the cratering stock (HMNY)
|08/10/2018||Posted by BusinessMediaguide.Com under General World News||
- As investors in MoviePass’ parent company — the Nasdaq-listed Helios and Matheson Analytics (HMNY) — have seen the value of their stakes nosedive 99.99% in recent months, two Wall Street banks have made millions in fees selling the stock.
- Since last August when Helios bought MoviePass, a popular movie-theater subscription service, the company has covered massive losses by selling new shares to the public and diluting previous shareholders.
- To sell these new shares, Helios has primarily employed the services of two investment banks: Canaccord Genuity, which has served as the sole bookrunner, and Maxim Group, which has served as the co-manager read more >>>