(NEW YORK)–After a major run, and even more painful pullback, Genius Brands International, Inc. (NASDAQ: GNUS) may be in process of finding a bottom for potential short cover rally off these levels.
The developing kids cartoon network saw its stock surge Tuesday on news that it came to an agreement with all of its existing senior secured convertible noteholders to have the noteholders pre-pay their Notes.
Ludlow Research made note to its subscribers that following GNUS major run in early June it was only normal and expected to see a retracement in the stock, and based on some technical factors GNUS may be in process of forming a chart reversal and setting stage for possible rally off these levels.
After rallying to $11 in early June the stock took on some heavy short positions as the stock was extremely over bought at that time with RSI above 90. Now, after a considerable pullback GNUS could be setting stage for a very strong short cover rally off the $3.00 level based on these high levels of short positions needing to cover on any possible chart reversal.
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About Genius Brands International
Genius Brands International, Inc. (Nasdaq: GNUS) is a leading global kids media company developing, producing, marketing and licensing branded children’s entertainment properties and consumer products for media and retail distribution. The Company’s award-winning ‘content with a purpose’ portfolio includes the upcoming Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger; Rainbow Rangers for Nick Jr.; Llama Llama, starring Jennifer Garner, for Netflix; award-winning toddler brand Baby Genius; adventure comedy STEM series Thomas Edison’s Secret Lab; entrepreneurship series Warren Buffett’s Secret Millionaires Club; and Stan Lee’s Cosmic Crusaders, created with Stan Lee’s Pow! Entertainment. Through licensing agreements with leading partners, characters from Genius Brands’ IP also appear on a wide range of consumer products for the worldwide retail marketplace. The Company’s new Kartoon Channel! is available in over 100 million U.S. television households via a broad range of distribution platforms, including Comcast, Cox, DISH, Amazon Prime, Sling TV, Apple TV, Roku, Amazon Fire and more. For additional information, please visit www.gnusbrands.comStart Online Video Courses Today!