GNS is blasting out of penny stock territory today
Genius Group Ltd (NYSE:GNS) is soaring today, up 49.4% at $5.90 at last glance -- trading as high as $7.27 earlier -- after news that the company is spinning off one of its subsidiaries, Entrepreneur Resorts Ltd. Worth $37 million, the resort name was acquired by Genius Group in June 2020, and all shareholders of GNS will receive an equal percentage of shares in Entrepreneur Resorts.
GNS is seeing a surge in options volume today. So far, 15,000 calls and 5,232 puts have been exchanged, which is 3.1 times the usual daily volume already. The February 8 and 7 calls are the most popular, with new positions being opened at both.
The stock is working its way higher this month, and blasted out of penny stock territory today after starting the year below $1. The shares also recently broke above their 140-day moving average.
