Easy come, easy go, as shares of Genius Brands International (NASDAQ:GNUS) continue their fall from grace on Tuesday following the massive run-up to start the month. The stock is down 5% in morning trading.
Investors got hyped on a number of operational developments by the children's entertainment company that caused the stock to surge 2,400% in the span of a month, topping out at nearly $12 a share before beginning its long descent.
Genius Brands stock now trades at nearly the level at which it began the month.
For a company that was on the verge of being delisted, Genius Brands looked like an incredible turnaround story in the making. Its kids-oriented TV show would be broadcast on Amazon.com's Prime streaming service and toy maker Mattel would be developing toys to be sold in Walmart beginning in August.
Analysts weren't particularly enamored with the prospects of Genius Brands, its marketing deals notwithstanding, and a short-seller had warned the stock was worth at best just $1.50 per share.
With questions still surrounding just how strong even those marketing deals are, it's not surprising Genius Brands continues its downward trajectory.