The stock markets may have been in absolute turmoil over the past months, and many of the best-known stocks have recorded significant declines from their all-time highs. However, there are certain stocks that have recorded remarkable gains during these times, and one of those is children’s media company Genius Brands International Inc (NASDAQ:GNUS).
It is not a particularly well-known company, but since May 1, the stock has been on a scorching run and gained as much as 2600% so far. Considering the sort of rally it has enjoyed, it could be worthwhile for investors to take a closer look at this company.
According to available data, the company’s market cap has pretty much skyrocketed to $496 million as of this week from a mere $9 million back on May 1. Genius Brands developed children’s shows like “Stan Lee’s Superhero Kindergarten” and “Rainbow Rangers,” among others. Rainbow Rangers is telecast on Nickelodeon Junior, and recently, the rights of Superhero Kindergarten were acquired by Amazon Prime.
The surge in the stock price was, however, followed by a landmark announcement from Genius Brands on May 5. The company announced its ‘Rainbow Rangers’ toy products that have been made by Mattel are going to be made available in Walmart stores at some point this summer.
However, since then, it has made a range of announcements that have resulted in fuelling this remarkable rally in the Genius Brands stock. A day after the company announced that its streaming platform ‘Kartoon Channel’ was going to be launched in mid-June. Moreover, the streaming platform is going to be available on Amazon Prime, Roku, Apple TV, and others.
The company announced its first-quarter earnings during May as well and recorded a loss of $5.8 million. On May 29, the company also notified that it was compliant with NASDAQ’s listing rules, and the Genius Brands was going to continue to be listed on the exchange. Sign-up for continuing coverage on shares of $GNUS stock, as well as other hot stock picks, get our free newsletter today, and get our next breakout pick!