MarketWatch.com
Genius Brands stock rockets more than 2,400% in a month, ahead of ‘important news’ in coming days
Stock soars to a 5-year high on a 2nd-straight day of record volume, while bearish bets keep rising to record levels
Shares of Genius Brands International Inc. blasted off Wednesday on record volume, to extend the mind-boggling rally over the past month, ahead of the imminent release of “important news” and the launch of its network brand “Kartoon Channel” later this month.
The stock’s rally comes in the face of a growing number of doubters, as contrarian bearish bets keep increasing to record levels despite a more than tripling in costs, which could provide the backdrop for further buying.
