Shares of Genius Group (NYSE:GNS) almost quadrupled at one point in today’s trading session. This can be attributed to the company’s attempt to counter the potential manipulation of its stock.
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Genius Group is throwing the kitchen sink at the problem by issuing a special dividend along with possible buybacks, dual listings, and a reverse stock split. In addition, it’s working with government regulators and may take legal action against those participating in naked short selling, which is an illegal practice.
GNS stock has lost its upward momentum since peaking at $2.15 per share earlier in the day. Nevertheless, any short sellers that got caught in this squeeze are taking a massive hit following this parabolic move.
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