GNUS Stock – Here’s Why Genius Brands International (GNUS) Cratered Tuesday
Genius Brands International (GNUS) stock shed 21%, or $0.55, as it dipped to $2.05 per share Tuesday afternoon. Genius Brands fell despite announcing that it has reached a licensing deal with Marvel Studios for Stan Lee’s likeness rights, marking the first collaboration between the entertainment companies.
Why Did Genius Brands International (GNUS) Stock Plummet?
Genius Brands International (GNUS) stock wiped nearly a quarter of its value from the books as investors weren’t impressed with the company striking a licensing deal with Marvel Studios for Stan Lee’s likeness to be used in forthcoming content around the Marvel Studios’ legacy.
The Marvel deal comes on the heels of Genius Brands, which owns the IP rights to “Stan Lee Universe,” announcing a joint venture with POW! Entertainment, LLC to license Stan Lee’s likeness and signature, along with other properties.
“The faithful protection of Stan’s brand for the millions of fans around the world, is a sacred stewardship for us at Genius Brands,” Andy Heyward, chairman and CEO of Genius said in a statement. “As we approach the Stan Lee Centennial in 2022 and focus on celebrating the unique and iconic stature of Stan Lee, we are thrilled to collaborate with Marvel Studios.”
GNUS has a Long-Term Technical Rank of 63. Find out what this means to you and get the rest of the rankings on GNUS!
Genius Brands International Inc is a kids media company. It is engaged in developing, producing, marketing, and licensing branded children’s entertainment properties and consumer products for media and retail distribution. Its portfolio features programming for toddlers to tweens, including the preschool properties Rainbow Rangers for Nick Jr. and Llama Llama for Netflix, toddler brand Baby Genius, STEM-based series Thomas Edison’s Secret Lab, Warren Buffett’s Secret Millionaires Club, and the new preschool show, Stan Lee’s Superhero Kindergarten. The company’s channel is available on television and mobile devices through distribution platforms, including Comcast, Cox, DISH, Sling TV, Apple TV, Roku, and Amazon Fire among others.