What's Going On With Genius Brands Stock?

Genius Brands International Inc GNUS shares are trading higher Tuesday after the company announced an exclusive deal with BuzzFeed Inc BZFD.

What Happened: Through its Frederator Network subsidiary, Genius Brands inked an exclusive content deal with BuzzFeed which grants the company the exclusive opportunity and first right to develop and produce longform series based on original digital properties created by the BuzzFeed Animation Lab. 

Frederator Studios will serve as the global content sales agent and Genius Brands' consumer products division will develop the retail program for the slate of IP.

"The BuzzFeed Animation Lab has seen huge success and explosive growth for our animated properties, and we are thrilled to partner with Frederator Studios for development. They have an unparalleled track record in the industry and are the perfect shepherds to take our animated properties into a new format and expand our audience," said Zee Myers, head of BuzzFeed Animation Lab.

The news comes just a day after Genius Brands announced the launch of its first AI-generated children's series, "Kidaverse Fast Facts," which utilizes Microsoft Corp MSFT-backed OpenAI's ChatGPT, among other AI technologies. 

Check This Out: Genius Brands Taps AI For New Series Following Reverse Stock Split: What's Going On?

What Else: On Friday, Genius Brands announced a 1-for-10 reverse stock split to maintain compliance with the Nasdaq's $1 minimum bid price continued listing requirement. The stock split went into effect on Monday. 

Genius Brands is popular among retail traders. The stock is very heavily shorted, according to data from Benzinga Pro.

GNUS Price Action: Genius Brands has a 52-week high of $12.40 and a 52-week low of $3.31. 

The stock was halted for volatility in early trading. It was up 18.1% at $4.26 at the time of writing.

Photo: courtesy of Genius Brands.

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