- NASDAQ:GNUS trimmed 0.93% as the broader markets continued to rebound.
- Internet rumors have tied the Kartoon Channel to a major Roblox partnership.
- Genius recently announced a digital channel launch with ad-support.
NASDAQ:GNUS cooled off on Thursday amidst a second straight day of the NASDAQ exchange rebounding by 2.5% following its recent correction. Genius Brands fell by 0.93% to close the trading session at $2.13, which has the stock trading above its 50-day and 200-day moving averages once again. Shares are still over 80% lower than the 52-week high price of $11.73, but if you look at the silver lining, they are still well over 4,000% higher than the 52-week low price of $0.05.
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The main catalyst for the recent activity in Genius’ stock price is the rumors swirling around the internet about a potential major partnership with the gaming platform Roblox (NYSE:RBLX). The Kartoon Channel already does show some Roblox shows on its streaming app, so a full on partnership is not something that is out of the realm of possibility. Roblox itself made its much-anticipated Wall Street debut on Wednesday, so it is not surprising to see increased news coverage of the company during its initial IPO period. Any report of a partnership would undoubtedly send Genuis’ stock price soaring through the roof as Roblox is one of, if not, the most popular gaming platform amongst the ever important 8-18 age demographic.
GNUS Stock forecast
Genius Brands also announced recently it will launch a digital streaming service that will act in a linear fashion to its Kartoon Channel. The new streaming channel will be a FAST one, meaning it uses the Free Ad-Supported Streaming TV system. Genius continues to build out its streaming infrastructure, and will look to cash in on the lucrative ad revenue that comes with these channels.
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