Why Shares of Genius Brands International Plunged 19% on Wednesday

Why Shares of Genius Brands International Plunged 19% on Wednesday

Shares of children's media company Genius Brands International (NASDAQ: GNUS) fell as much as 19% in trading on Wednesday after the company announced a large offering of stock. Genius Brands is offering 37.4 million shares of stock to "certain long-standing investors" at a share price of $1.55.