Why Genius Brands Stock Surged Today
Shares of Genius Brands International (NASDAQ: GNUS) rebounded on Wednesday, partially reversing a sharp downward move in recent days. By the close of trading, Genius Brands' stock was up more than 13% after soaring as much as 46% earlier in the day.
Genius Brands is a highly volatile stock, with numerous factors affecting its share price movements. Investors could be buying the stock ahead of the upcoming launch of the kids' entertainment company's new Kartoon Channel! The free, ad-supported digital network is slated to go live on June 15. CEO Andy Heyward says the service will be available to more than 100 million U.S. households and 200 million mobile devices.
Moreover, Genius Brands is a popular stock on trading platform Robinhood. Over the past day, only Tesla saw a bigger increase in popularity among Robinhood users, according to Robintrack.
Source Fool.com
