SALT LAKE CITY — Helios & Matheson Analytics, the owner of MoviePass, was delisted from the Nasdaq on Tuesday, according to Bloomberg.
The company will be suspended at the opening on Wednesday.
HMNY’s delisting comes just about a month after the company filed a spinoff of MoviePass, which struggled to find a business model that worked. MoviePass has seen its own fair share of troubles as major competitors have sprung up in the subscription market.
HMNY once traded shares at $8,000 at the peak of MoviePass in August 2017.Comment on this story
More recently, shares traded to below $1, and there were fears the company would have to delist, according to Bloomberg.
A spokeswoman for HMNY told Bloomberg the delisting has "no effect on the day-to-day business operations of HMNY or its subsidiaries, including MoviePass and MoviePass Films."
Comeback: MoviePass is planning a comeback. I spoke with HMNY CEO Ted Farnsworth for my article on MoviePass’ fall from grace. He said he was excited for the future of the company.
“I think it's good. I think the MoviePass 2.0 is going to be interesting to see this year what really comes of it,” he said.