Genius Brands International Inc (NASDAQ:GNUS) shares are trading higher. The company announced a name change Tuesday morning.
What To Know: Genius Brands is set to change its name to Kartoon Studios. The company plans to transfer its listing from the Nasdaq to the NYSE and trade under the new ticker symbol “TOON.”
The company will continue to trade as Genius Brands under the ticker symbol “GNUS” until the close on June 23. Kartoon Studios is expected to commence trading on the NYSE at the open on June 26. Stan Lee will ring the opening bell via animation on that day.
“The name change from Genius Brands to Kartoon Studios was conceived to reflect the core DNA of the Company, making high quality and socially responsible animated cartoons for children, distributing them worldwide, and licensing consumer products based on the character images,” said Andy Heyward, chairman and CEO of Genius Brands.
Separately, Genius Brands announced that the launch of “Shaq’s Garage,” starring NBA legend Shaquille O’Neal, on Pluto TV was a success. The company said the pilot episode had twice the users and view time of any other show on Kartoon Channel! this year.
“We’ll look to carry this initial success well beyond the launch and continue to grow the brand into the future,” said Todd Steinman, president of Genius Networks.
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GNUS Price Action: Genius Brands shares were up 10.8% at $2.67 at the time of publication, according to Benzinga Pro.
Photo: Melissa from Pixabay.
