Kartoon Studios (NYSE:TOON) shares are volatile Monday after the company transferred its listing from the Nasdaq to the New York Stock Exchange and completed a name change.
What To Know: Kartoon Studios previously traded on the Nasdaq as Genius Brands under the ticker “GNUS.” On Monday, the company officially changed its name to Kartoon Studios and began trading on the NYSE under the ticker “TOON.”
“We view this as a strategic move that aligns Kartoon Studios with our vision to be the premier source of children’s entertainment, as the NYSE is home to major industry titans such as Disney, SONY, Roblox, AMC and more,” said Andy Heyward, chairman and CEO of Kartoon Studios.
“As we head into our next phase of growth, the timing of these events could not be more perfect for both the Company and our investors.”
Kartoon Studios has the rights to the IP of the Stan Lee brand through its controlling interest in Stan Lee Universe, LLC. Lee rang the opening bell at the NYSE Monday morning via animation.
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Price Action: Genius Brands shares were up more than 25% over the last month heading into the listing transfer. The stock was hovering around $3.25 per share at the time of publication, according to Benzinga Pro.
Photo: PublicDomainPictures from Pixabay.
