What's Going On With Genius Group Stock?
Portfolio Pulse from Erica Kollmann
Genius Group Limited (AMEX:GNS) announced the completion of its merger with FatBrain AI, an all-stock transaction. This merger is expected to increase Genius Group's 2023 pro forma revenue guidance by approximately 150% to an estimated $76 million to $80 million, and its pro forma net profit guidance by $4 million to $7 million to $9 million. Following the news, Genius Group shares are trading down 3% at 38 cents.
March 15, 2024 | 2:29 pm
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Genius Group's merger with FatBrain AI is expected to significantly boost its revenue and net profit guidance for 2023, but shares are currently trading down 3% at 38 cents.
The merger with FatBrain AI is a significant development for Genius Group, indicating a strong future revenue and profit outlook. However, the immediate market reaction has been negative, with shares dropping 3%. This could be due to market skepticism about the merger's short-term benefits or concerns over the dilution of shares due to the all-stock nature of the transaction.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100