Signing a licensing deal with a behemoth like Disney can often lead to considerable interest in a company and hence, it was no surprise that the Genius Brands (NASDAQ:GNUS) stock ended up with gains of 14% on Wednesday amidst heavy interest.
Trading Data
On Wednesday, GNUS stock soared 12.84% to $0.7751 with more than 82.08 million shares, compared to volume of 4.44 million shares. The stock moved within a range of $0.7337 – 0.9300 after opening trade at $0.90.
Genius Brands Signs 20-Year Deal with Marvel Studios to License “Stan Lee” for Use in Future Feature Films, Television Productions, and Disney Theme Parks and Experiences
As per the provisions of the licensing deal signed between the two companies, Genius Brands is going to get the license to use the likeness of Stan Lee. Stan Lee is famed for having created some of the major superheroes which are part of the Marvel Comics universe. Disney is the owner of Marvel at this point and hence, Genius Brands had to deal with it.
In addition to the name, Genius Brands also got the license to use Stan Lee’s name. It was a major new development for Genius Brands because following the signing of this particular licensing deal with Disney, it will be able to use Stan Lee’s name and likeness in its TV shows and movies.
It should be noted that Stan Lee often appeared in many Marvel films. On the other hand, Stan Lee’s likeness could also be used at some of the theme parks the company operates.
Key Quote
“We are proud to be the stewards of the incredibly valuable rights to Stan Lee’s name, likeness, merchandise, and intellectual property brand,” said Andy Heyward, Chairman & CEO of Genius Brands. “And, there is no better place than Marvel and Disney where Stan should be for his movies and theme park experiences. As we enter the centennial year of Stan’s birthday, December 28, 2022, we are thrilled to see his memory and legacy will continue to delight fans through this new long-term agreement with Marvel.”
Technical Data
GNUS stock is trading below the 20-Day and 50-Day Moving averages of $0.82 and $1.14 respectively. However, the stock is trading above the 200-Day moving average of $0.69.
