$GNS Naked Short Selling Under Pressure
Genius Group Limited (NYSE American: GNS) is a leading entrepreneur edtech and education company that aims to disrupt the current education model with more than 4.3 million users and students in 200 countries. While the company is trading at a significant dip since its IPO in April 2022, GNS is climbing investors’ watchlists after running more than 313% overnight. This run was triggered by the company creating an illegal trading task force to combat naked short selling which the company believes is the main reason for its dip. Given the increased attention the company is receiving, GNS stock is one to watch closely over the coming weeks in anticipation of updates about fighting illegal naked short selling.
GNS Fundamentals
Back in April 2022, GNS started to trade on NYSE American following its IPO where the company issued 3.2 million shares at $6 per share. Following its listing, GNS has been trending downwards – with the stock reaching a low of $.3. Considering this major drop in PPS, GNS’ management and board had the belief that the stock may have been the target of a market manipulation scheme through illegal naked short selling. For this reason, GNS retained Christian Levine Law Group and Warshaw Burstein, LLP to investigate the manipulation occurring with the company’s stock in order to protect its shareholders’ value.
With this in mind, the initial results of this investigation confirmed GNS’ suspicions as the results indicated that certain individuals and companies engaged in illegal naked short selling of a significant amount of the company’s stock. As the company is looking to combat this illegal naked short selling activity, GNS has been continuing with its investigation to determine those responsible for manipulating its PPS to pursue remedies against these parties.
On that note, GNS recently approved at a board meeting an action plan to address the naked short selling of the company’s stock. This plan includes creating an Illegal Trading Task Force to pursue actions against parties involved with the naked short selling of its stock and is led by former Deputy Director of the FBI – Richard Berman. In addition to creating this task force, GNS has been in communication with government regulatory authorities and is sharing information with these authorities to assist them in identifying the parties manipulating the stock’s PPS. In light of these actions to fight naked short selling, GNS has been gaining momentum from retail investors who are against illegal naked short selling of stocks. As a result, GNS stock soared more than 313% and has the potential to further run as more updates are announced.
Meanwhile, GNS’ board is seeking shareholder approval at an extraordinary general meeting in the coming weeks over a number of actions the board has authorized. At the core of these actions is advancing to the next stage of the legal process and exploring legal action against parties believed to be involved in the naked short selling of the company’s stock. GNS’ board also authorized issuing a special dividend to all shareholders which the company believes could help expose the parties participating in the manipulation of GNS stock.
Moreover, the board is seeking approval for a potential dual listing which could make illegal naked short selling more difficult in the future. With the company planning to announce the details for the general meeting soon, GNS could be poised to soar on shareholder approval as these actions could have a major impact on the naked short selling witnessed by the stock.
GNS Financials
Looking into GNS’ financials, the company has $83.1 million in assets including $8.9 million in cash and $11.3 million in restricted cash. Meanwhile, GNS has $30.3 million in liabilities – of which $16.2 million are current liabilities. In terms of revenues, GNS reported $14.4 million throughout its first 3 quarters and generated a gross profit of $4.8 million. However, the company incurred $10.6 million in operating costs – leading the company to report a net loss of $6 million.
Technical Analysis
GNS stock price is currently at $2.09 and shows supports near 1.61 and .61. The stock also shows resistances near 2.17, 2.71, 3.65, and 5.61. Upon announcing its actions to combat naked short selling, GNS soared more than 313% on an extremely high trading volume of 247.3 million – compared to its average volume of 682.1 thousand. Given that GNS is gaining momentum among retail investors thanks to its efforts to combat naked short selling, the stock has the potential to continue climbing over the coming weeks. In light of this, bullish investors could enter a starter position at the current PPS and average up as the stock moves.
Given the bullish sentiment surrounding GNS stock, accumulation is trending upwards and the MACD is bullish to the upside. Meanwhile, the RSI is holding at 86 indicating that GNS is overbought. Despite this, GNS could witness another strong movement upwards thanks to the increasing interest the stock is garnering. GNS has an OS of 24.6 million and a low float of 10.7 million which could allow the stock to soar on strong buying activity.
GNS Forecast
With the company gaining investors’ attention thanks to its efforts in combating naked short selling, GNS has the potential to continue soaring over the coming weeks. With this in mind, many investors are anticipating more updates regarding the company’s general meeting. If the company’s actions are approved by shareholders, retail investors could apply strong buying pressure – forcing naked short sellers to cover their positions. In this way, GNS stock could soar to new highs. Given that many investors are bullish on the company’s potential special dividend and dual listing, GNS is one to watch closely over the coming weeks as its updates unfold – especially its 2023 guidance scheduled for next week.
GNS Fundamentals
Back in April 2022, GNS started to trade on NYSE American following its IPO where the company issued 3.2 million shares at $6 per share. Following its listing, GNS has been trending downwards – with the stock reaching a low of $.3. Considering this major drop in PPS, GNS’ management and board had the belief that the stock may have been the target of a market manipulation scheme through illegal naked short selling. For this reason, GNS retained Christian Levine Law Group and Warshaw Burstein, LLP to investigate the manipulation occurring with the company’s stock in order to protect its shareholders’ value.
With this in mind, the initial results of this investigation confirmed GNS’ suspicions as the results indicated that certain individuals and companies engaged in illegal naked short selling of a significant amount of the company’s stock. As the company is looking to combat this illegal naked short selling activity, GNS has been continuing with its investigation to determine those responsible for manipulating its PPS to pursue remedies against these parties.
On that note, GNS recently approved at a board meeting an action plan to address the naked short selling of the company’s stock. This plan includes creating an Illegal Trading Task Force to pursue actions against parties involved with the naked short selling of its stock and is led by former Deputy Director of the FBI – Richard Berman. In addition to creating this task force, GNS has been in communication with government regulatory authorities and is sharing information with these authorities to assist them in identifying the parties manipulating the stock’s PPS. In light of these actions to fight naked short selling, GNS has been gaining momentum from retail investors who are against illegal naked short selling of stocks. As a result, GNS stock soared more than 313% and has the potential to further run as more updates are announced.
Meanwhile, GNS’ board is seeking shareholder approval at an extraordinary general meeting in the coming weeks over a number of actions the board has authorized. At the core of these actions is advancing to the next stage of the legal process and exploring legal action against parties believed to be involved in the naked short selling of the company’s stock. GNS’ board also authorized issuing a special dividend to all shareholders which the company believes could help expose the parties participating in the manipulation of GNS stock.
Moreover, the board is seeking approval for a potential dual listing which could make illegal naked short selling more difficult in the future. With the company planning to announce the details for the general meeting soon, GNS could be poised to soar on shareholder approval as these actions could have a major impact on the naked short selling witnessed by the stock.
GNS Financials
Looking into GNS’ financials, the company has $83.1 million in assets including $8.9 million in cash and $11.3 million in restricted cash. Meanwhile, GNS has $30.3 million in liabilities – of which $16.2 million are current liabilities. In terms of revenues, GNS reported $14.4 million throughout its first 3 quarters and generated a gross profit of $4.8 million. However, the company incurred $10.6 million in operating costs – leading the company to report a net loss of $6 million.
Technical Analysis
GNS stock price is currently at $2.09 and shows supports near 1.61 and .61. The stock also shows resistances near 2.17, 2.71, 3.65, and 5.61. Upon announcing its actions to combat naked short selling, GNS soared more than 313% on an extremely high trading volume of 247.3 million – compared to its average volume of 682.1 thousand. Given that GNS is gaining momentum among retail investors thanks to its efforts to combat naked short selling, the stock has the potential to continue climbing over the coming weeks. In light of this, bullish investors could enter a starter position at the current PPS and average up as the stock moves.
Given the bullish sentiment surrounding GNS stock, accumulation is trending upwards and the MACD is bullish to the upside. Meanwhile, the RSI is holding at 86 indicating that GNS is overbought. Despite this, GNS could witness another strong movement upwards thanks to the increasing interest the stock is garnering. GNS has an OS of 24.6 million and a low float of 10.7 million which could allow the stock to soar on strong buying activity.
GNS Forecast
With the company gaining investors’ attention thanks to its efforts in combating naked short selling, GNS has the potential to continue soaring over the coming weeks. With this in mind, many investors are anticipating more updates regarding the company’s general meeting. If the company’s actions are approved by shareholders, retail investors could apply strong buying pressure – forcing naked short sellers to cover their positions. In this way, GNS stock could soar to new highs. Given that many investors are bullish on the company’s potential special dividend and dual listing, GNS is one to watch closely over the coming weeks as its updates unfold – especially its 2023 guidance scheduled for next week.