Will helios and matheson stock go up9/13/2023 That's a lot of money for a company to lose, and the reason why Wall Street is souring on the business model and the stock. Then you're going to multiply 5 million MoviePass members by $9.95 a month - knowing that many pay even less than that - and arrive at less than $600 million in subscription revenue. You're going to pull up the more than $11 billion in box office receipts generated at stateside theaters last year, and jot down that 20% of that would be more than $2.2 billion. The inner bear in you is going to snicker. He sees MoviePass going from 2 million members accounting for 6% of the domestic ticket sales to 5 million members gobbling up 20% of all movie tickets by the end of this year. MoviePass CEO Mitch Lowe was at an entertainment finance forum last month, putting out some pretty bold near-term predictions. I'm fine with that.ĭon't underestimate the power of a growing audience. I'm not a fan of dilution, but the stock would have to double from current levels for those investors to be made whole. It priced units at $5.50, including warrants exercisable at $6.50. Helios and Matheson completed a $105 million secondary offering in February. The company is worth more than it was the last time that we were at these levels. Helios and Matheson closed at $2.79 the day before it announced the MoviePass deal. The stock also initially spiked - a more-than-tenfold gain by the time it peaked at $38.86 in mid-October - only to give it all back. MoviePass had just 20,000 accounts at the time of the deal, and back in February it was up to 2 million members. More importantly, the transaction accompanied the announcement that the service would be slashing its monthly subscription rate from as high as $30 to just $9.95. Helios and Matheson turned heads over the summer, acquiring a controlling stake in the fledgling MoviePass service that lets members watch movies at the local multiplex - no more than one per day - for a single monthly price.
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