Shares of Genius Group (NYSE:GNS) have been whipsawing between large gains and losses in today’s session. This comes after the company announced it was substantially raising its full-year guidance for 2022.
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Indeed, Genius’ revenue was previously expected to come in between $35 million to $38 million. Instead, it’s been updated to a range of $48 million to $52 million. This led to an increase in profitability, as adjusted EBITDA is expected to be between $500,000 to $1 million versus -$5 million to -$4 million. These results were driven by a large jump in users, which ranged from 5.7 million to 6 million. This was 30% higher than expected.
GNS stock has rallied significantly in the past five trading days after the company announced plans to take on naked short sellers responsible for manipulating the stock price.
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