DIS - Why Genius Brands Soared 24% This Week
Shares of Genius Brands (NASDAQ: GNUS) rocketed 23.7% this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence .
Investors didn't care so much that the children's entertainment outfit reported earnings that showed a 35% increase in sales (though the stock did go up almost 10% on the news). Rather it was the announcement that Genius Brands signed a 20-year deal with Disney 's (NYSE: DIS) Marvel Studios to license the name and likeness of comic book legend Stan Lee for use in films and television, as well as to use in Disney theme parks globally, that sent shares soaring.
The stock had been up as much as 35% at one point during the day, before settling for a 12% gain. Genius Brands shares have eased back since.
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Why Genius Brands Soared 24% This Week