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MoviePass to be spun off as a separate public company

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Letting go of the beleaguered subscription service could give Helios and Matheson a boost on Wall Street.

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MoviePass to be spun off from parent companyHelios and Matheson shares surged 80% in premarket trading after announcing that MoviePass will be spun off. Bagholders still poor.
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MoviePass' parent wants to spin it off into a separate company, as the government investigates its financesOn Tuesday, MoviePass parent company Helios and Matheson Analytics (HMNY) announced a 'preliminary plan' to spin off MoviePass into a separate public company.
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MoviePass' parent company has been kicked off the NasdaqHelios and Matheson Analytics, the parent company of MoviePass, has been kicked off the Nasdaq after trading below $1 since last summer.
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MoviePass laid off its entire business development team, as the company continues to tailspinThe LA-based three-person business development team at MoviePass was laid off on Thursday, as things get more dire at the company.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Gap to spin off Old Navy as stand-alone company, stock skyrockets more than 25%Gap Inc. stock surges in the extended session Thursday after the retailer says it will split itself into two publicly traded companies, one consisting of its Old Navy brand and a yet-to-be-named company with its Gap, Athleta, Banana Republic, Intermix, and Hill City brands, as sales at the flagship Gap brand fell 5% globally in the fourth quarter.
Källa: MarketWatch - 🏆 3. / 97 Läs mer »