• 2 Wall Street banks made millions selling the collapsing shares of MoviePass' parent company, as their analysts kept ‘buy' ratings on the cratering stock

    4 monthes ago - By Business Insider

    As investors in MoviePass' parent company - the Nasdaq-listed Helios and Matheson Analytics - 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...
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