3 Things Genius Brands Stock Bulls Need to Happen Soon
The stock market's volatility during 2020 has been extreme, and the pace of the recent recovery has drawn a lot of speculative investment into the market. Genius Brands International (NASDAQ: GNUS) has been one of the beneficiaries of that trend, as its stock soared from $0.31 per share at the beginning of May to well above $10 per share for a brief period on June 4.
Those who like Genius Brands' prospects have high hopes that the kids' entertainment company is on the cusp of being the next big thing. Yet even though the stock has given up some of its recent gains, it's still trading far above where it did a couple months ago. Below, we'll look at three things that Genius Brands needs to do quickly in order to justify the confidence that shareholders have put in bidding the stock price up so far.
The reason why Genius Brands is in the spotlight right now is because it's launching its kids' digital network, Kartoon Channel, on June 15. CEO Andy Heyward has been outspoken about the prospects for the launch, referring to it as "Netflix (NASDAQ: NFLX) for kids" and noting that it will be available in more than 100 million television households in the U.S. and 200 million mobile devices. Unlike other streaming services, Kartoon Channel won't have any subscription fees, with advertisers providing all of the financial support for the programming.
Source Fool.com
