Genius Brands Up 24%: Should You Buy GNUS Stock?

3 min read | March 05, 2021 05:53 AM EST | By Shreya Biswas

Genius Brands Up 24%: Should You Buy GNUS Stock?

Why Genius Brands International (NASDAQ:GNUS, GNUS:US) Stocks Jumped?

A children-focused entertainment content producer based in Beverly Hills, California, Genius Brands International issued a letter to its shareholders on Thursday. In it, the company announced the upcoming series premiere of its new show, Stan Lee's Superhero Kindergarten, set to be released on April 23 this year. The show will be starring Hollywood actor Arnold Schwarzenegger, and debut on Genius Brands' kid-friendly network, Kartoon Channel!, the company said.

In the wake of this announcement, Genius Brands stocks took off on Thursday.

Source: Pixabay

Legendary comic book writer Stan Lee, who was brought to characters such as Spider-Man, Hulk, Iron Man, etc, passed in November 2018 at the age of 95. Genius Brands’ Superhero Kindergarten was one of his last creations.

Genius Brands Chairperson and CEO Andy Heyward said in the letter that Superhero Kindergarten ‘Sneak Peek' in January turned out to be a “massive success” for Kartoon Channel!.

Genius Brands’ Stock & Financial Perfomance

Genius Brands stock expanded by a notable 673 per cent in the past one year. This year, it has grown by about 53 per cent so far. The stock secured an average share movement volume of nearly 27 million for the last 10 days and of over 41 million for the past month.

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Genius brands share, however, continues to trade lower than its 2020 June high point of US$ 7.93 (June 13).

On the financial front, the Californian company posted a net loss of over two million for the third quarter ending 30 September 2020. Its Q3 2020 revenue was also lowered on a year-over-year level at US$ 0.27 million.

Its cash and cash equivalents of US$ 50.4 million for the first nine months of 2020, on the other hand, were improved as compared to that of US$ 0.3 million for nine months period ending on 31 December 2020.

Genius Brands Current Scenario

Genius Brands teased at a deal with Walt Disney-owned Marvel Entertainment in its latest letter, saying that it will reveal more information about it by this month-end.

The US$ 578-million market cap company also recently bought the license of five Scooby-Doo movies from production house Warner Bros.

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