Genius Brands Shares Explode After Stock Regains Nasdaq Compliance

Genuis Brands International Inc. saw its shares explode on Tuesday to their highest close since September of 2017.

The stock gained 53.4% on heavy trading volume, making it the most actively traded stock on major U.S. exchanges.

Shares of the kids media company have already climed over 2,000% in the past month.

The stock has skyrocketed nearly 26-fold, up 2,440.0%, since it closed at 31 cents a month ago. That has boosted Genius Brands’s market capitalization to $763.9 million from about $9.2 million as of May 1, according to FactSet.

“We are delighted to see the market reacting to our mission, and we look forward to sharing important news in the coming days,” said Chief Executive Andy Heward to MarketWatch.

Genius Brands is known for its shows “Stan Lee’s Superhero Kindergarten,” “Rainbow Rangers” and “Llama Llama.”

It was last Friday that the company disclosed that it had regained compliance with the Nasdaq’s minimum bid price listing standard. Last 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.

About two weeks ago Genius Brands had also announced a registered direct offering of 7.5 million shares at $1.20 a share to raise $9 million.

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.

Disclaimer: We have no position in Genius Brands International Inc. (NASDAQ: GNUS) and have not been compensated for this article.