Why Genius Brands Stock Rose Today
Shares of Genius Brands International (NASDAQ: GNUS) jumped on Monday after the children's entertainment company said Arnold Schwarzenegger has agreed to become a "significant investor." At the close today, Genius Brands stock was up 8.6% after climbing as much as 20% earlier in the day.
Schwarzenegger chose warrants to purchase shares of Genius Brands stock as part of his compensation for starring in and co-producing the company's new animated series, Stan Lee's Superhero Kindergarten. Schwarzenegger will lend his voice and likeness to the show, and he will help to promote it among his fans.
Stan Lee was the co-creator of popular superheroes such as Spider-Man, Iron Man, Thor, the Hulk, and the X-Men, among many others. Fabian Nicieza, who worked with Lee and was co-creator of the popular comic book character Deadpool, is writing the script for the series. Superhero Kindergarten will launch in 2021 on Amazon.com's (NASDAQ: AMZN) Prime in the U.S. and Alibaba's (NYSE: BABA) broadcast platform in China.
Source Fool.com
