Is Arnold a Genius? Schwarzenegger Lifts GNUS
- Genius Brands Jumps 15% Higher in Early Trading
- Arnold Schwarzenegger is described as a "Significant Investor" in Genius Brands
- Schwarzenegger accepted warrants to star a Stan Lee project
Genius Brands (symbol GNUS) is off to a strong start today on news that Arnold Schwarzenegger has made a deal with the company
Arnold will co-produce a cartoon project titled Stan Lee's Superhero Kindergarten. It's one of the last projects of the great comic book writer.
Let's analyze the GNUS chart to see what happens next...
At the open of trading, Genius Brands shot higher on the news (arrow). The stock is trading at $4.51, which is below today's opening price, but higher than Friday's closing price of $4.16.
There are two reasons for Genius bulls to be concerned. The first is the overall market, which is down sharply at the open.
The second reason for concern is the sell signal from the stock's MACD (moving average convergence divergence) indicator. That sell signal is highlighted in yellow, and occurred on June 12th.
Bottom Line: The chart doesn't look great, but I'd hate to bet against Arnold.