Shares of MoviePass majority owner Helios & Matheson Analytics Inc. rose as much as 39% from Tuesday’s close during trading hours on Wednesday. Helios & Matheson Chief Executive Ted Fanrsworth said he and MoviePass Chief Executive Mitch Lowe have been exploring the possibilities of blockchain technology for more than a year, according to a report by Yahoo Finance. Farnsworth said they have been in discussions with lawyers about the possibility of an initial coin offering. He’s been wary of the Security and Exchange Commission’s regulations, as well as whether blockchain is just “the flavor of the day.” MoviePass CEO Mitch Lowe told Yahoo Finance that using a crypto currency in the day-to-day business of the company is an appealing prospect. Shares of Helios & Matheson have gained nearly $168% in the last 12 months, while the S&P 500 index is up more than 21% and the Dow Jones Industrial Average is up close to 28%.
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