Why Singapore-Based Edtech Company Genius Shares Are Surging Today
Portfolio Pulse from Nabaparna Bhattacharya
Genius Group Limited (GNS) shares surged after the company raised its FY23 revenue guidance to $27 million-$29 million, above the analyst consensus of $27.69 million. The company also adjusted its net profit expectations to $3.0 million-$5.0 million from a previously expected net loss of ($15.4) million to ($17.0) million. The positive outlook is attributed to organic growth, with expected student and user growth of 27% to 33%. CEO Roger Hamilton highlighted the shift from acquisitions in 2022 to organic growth in 2023. GNS shares jumped 22.03% to $0.72.
December 15, 2023 | 3:26 pm
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Genius Group Limited's stock price surged due to an updated financial guidance for FY23, with higher revenue projections and a significant positive adjustment in net profit expectations.
The stock price of GNS is likely to rise in the short term due to the company's updated financial guidance, which exceeded analyst expectations and showed a significant improvement from a projected net loss to a net profit. This positive financial outlook, particularly the shift from anticipated losses to profits, is a strong driver of investor confidence and can lead to increased buying pressure on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100