Genius Brands International Inc (NASDAQ:GNUS) Stock Pulls Back As Traders Book Profit

Earlier on in the week on Monday, the Genius Brands International Inc (NASDAQ:GNUS) stock had been one of the major movers and had clocked gains of as much as 45%.

Market Action:

On Tuesday, GNUS stock decreased 7.88% at $1.8700 with more than 107.28 million shares, compared to its average volume of 7.64 million shares. The stock has moved within a range of $1.6800 – 2.0800 after opening the trade at $1.8700.

Major News

However, the stock experienced a sharp correction yesterday and declined by 8%. Could the decline in the stock be an opportunity for investors? In order to figure that out it might be important for investors to first look into the reasons behind the gains that were made by the Genius Brands stock on Monday. The rally in the stock came about after the company made an announcement about a potential positive development on the business front.

The company announced that it was going to host a conference call on Tuesday and soon after the announcement was made, the stock started to climb. In addition to that, the conference call was also going to have its own webcast and investors were also given the option of watching the replay of the conference call on the investor relations page of the company website.

However, it seems that the actual announcement did not quite meet expectations and the stock corrected quickly on Tuesday. It remains to be seen if the stock recovers today.