Another news and another blow to GNUS investors. Just a few moments after the CEO of Genius Brands (NASDAQ:GNUS) announced “an agreement for Stan Lee Universe to be distributed by Archie Comic Publications, the #1 most widely distributed comic book company in the United States”, GNUS share price went almost half percent down.
On a year-to-date GNUS stock is still almost 1000% up because it opened this year with a $0.29 price tag while it is selling for $2.29 at the moment.
But some investors that are late to the party and those that invested during the first days of the June (when one GNUS share was selling above $7) feel like the share price of GNUS stock is manipulated by day traders.
$GNUS Is the most toxic stock in the market. The market cap is 100% controlled by day traders. The company has absolutely no control over their share price lol— A_L_TRADING (@ALTRADING2) July 15, 2020
Other investors feel as if too much PR can only hurt Genius Brands in the long run, and I feel the same. CEO should either stop announcing every decision made by company or announce only something that will bring the big bucks.
@GNUSBrands is this the 100th time in a row your p/r has backfired or has had little effect on the price per share. I think it's time to stay tight lipped 🤫🤫🤫. At least until mid to late Q3 or beginning of Q4.#investing #gnus #webull #wednesdaymorning— ChoppaChoppa50s (@choppa50s) July 15, 2020
Even in the latest press release GNUS talks about another announcement in a couple of days.
Over the coming days, there will be more announcements, as we continue to build out the Stan Lee Universe team and will announce our film, television, consumer products, and retail roll-out strategy.Andy Heyward
But Mr. Heyward couldn’t resist himself so he added a P.S. at the end of this PR saying that “the upcoming Kartoon Channel! iOS app” is coming using 3 exclamation points at the end of the sentence. Exclamation marks will not push the stock price higher. That is a fact.