Why Genius Sports Stock Soared Today

Shares of Genius Sports (NYSE: GENI) were soaring 13.5% heading into the market close on Wednesday on no apparent news, though the company did announce it had appointed a new director to the board.

New board appointees don't typically cause a stock to spike like this, but Kimberly Williams-Bradley, who will serve as an independent director on Genius' board, was previously the chief financial officer for the National Football League and chief operating officer of the NFL Network. Most recently she was executive vice president and CFO for Warner Bros. Entertainment.

Williams-Bradley will serve on the audit and compensation committees, and her appointment brings the total number of directors to nine.

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Source Fool.com