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Genius Brands stock soars, after regaining Nasdaq compliance, stock offerings and spike in short interest
Shares of Genius Brands International Inc. soared 46% on very heavy volume in afternoon trading Tuesday, putting them on track for the highest close since September 2017. Volume shot up to 154.2 million shares, well above the full-day average of 31.2 million, and enough to make the stock the most actively traded on major U.S. exchanges. The stock has now rocketed more than 12-fold (up 1,127%) in the past month, while the S&P 500 has gained 8.2%. The company is a kids media company, with shows including "Stan Lee's Superhero Kindergarten," "Rainbow Rangers" and "Llama Llama." After Friday's close, the company disclosed that it regained compliance with the Nasdaq's minimum bid price listing standard, and on Thursday the company disclosed a registered direct offering of 20 million shares of common stock to the public at a price of $1.50 to raise $30 million. That came less than two weeks after the company announced a registered direct offering of 7.5 million shares at $1.20 a share to raise $9 million. Separately, the latest data from Nasdaq showed that short interest, or bearish bets on Genius Brands' stock, jumped to a record of about 3.07 million shares according to FactSet, representing 7.5% of the public float.
https://finance.yahoo.com/m/9aba84b...389/genius-brands-stock-soars,.html?.tsrc=rss
Shares of Genius Brands International Inc. soared 46% on very heavy volume in afternoon trading Tuesday, putting them on track for the highest close since September 2017. Volume shot up to 154.2 million shares, well above the full-day average of 31.2 million, and enough to make the stock the most actively traded on major U.S. exchanges. The stock has now rocketed more than 12-fold (up 1,127%) in the past month, while the S&P 500 has gained 8.2%. The company is a kids media company, with shows including "Stan Lee's Superhero Kindergarten," "Rainbow Rangers" and "Llama Llama." After Friday's close, the company disclosed that it regained compliance with the Nasdaq's minimum bid price listing standard, and on Thursday the company disclosed a registered direct offering of 20 million shares of common stock to the public at a price of $1.50 to raise $30 million. That came less than two weeks after the company announced a registered direct offering of 7.5 million shares at $1.20 a share to raise $9 million. Separately, the latest data from Nasdaq showed that short interest, or bearish bets on Genius Brands' stock, jumped to a record of about 3.07 million shares according to FactSet, representing 7.5% of the public float.
https://finance.yahoo.com/m/9aba84b...389/genius-brands-stock-soars,.html?.tsrc=rss
