Why Genius Brands International's Stock Dropped Today
Shares of children's content company Genius Brands International (NASDAQ: GNUS) plunged as much as 25.6% in trading on Monday after completing a 1-for-10 reverse stock split. Shares are still down 21.3% at 11:30 a.m. ET.
At the start of trading today, Genius Brands has completed a reverse stock split, giving shareholders one share for every 10 that they own. This was done to stay in compliance with Nasdaq's trading rules, which require a stock to trade for over $1 per share.
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Source Fool.com
