Why Genius Brands Stock Is Trading Higher Today
A media penny stock is trading higher with news out that it could be launching a product that ties in with one of the hottest IPOs of the week.
What Happened: Share of Genius Brands International (NASDAQ: GNUS) are trading higher Wednesday due to a connection with the IPO of Roblox Corp (NYSE: RBLX).
Kartoon Channel from Genius Brands has two shows that feature content from Roblox.
“Big B Roblox Challenges” is 25 episodes featuring Big B Statz completing challenges in the best Roblox games geared at an audience of ages 11 to 22. “Sally Plays Roblox” is 24 episodes featuring Sally Green Gamer playing the best Roblox games geared towards an audience aged 5 to 22.
Related Link: IPO Preview: Roblox, Coupang, Joann Lead Busy Week Of Offerings
There has been no official announcement from Genius Sports on a working partnership with Roblox Corporation.
Kartoon Channel is a free ad-supported streaming network available in 100 million households in the U.S.
What’s Next: Genius Brands is launching “Stan Lee’s Superhero Kindergarten” starring Arnold Schwarzenegger on April 23.
The company also said in its shareholder letter that an announcement on its Marvel content will be coming by the end of March.
Price Action: Shares of Genius Brands are up 11.5% to $2.12 at the time of writing. Shares hit a high of $2.29 earlier in the trading session.
Disclosure: The author is long shares GNUS.
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