Nasdaq-listed Bitcoin treasury company Genius Group has responded to abnormal market trading activity in its stock, as required by a statement from NYSE American. The company's share price reportedly rose from $0.24 to $0.52 on May 27, surging as much as 116% intraday.
Genius Group stated that there have been no undisclosed material events concerning its business and operations. It had previously announced board approval of an AI treasury strategy, planning to invest up to $100 million in the AGI Infinity portfolio, involving companies like SpaceX and OpenAI. Additionally, its first round of Bitcoin shareholder rewards program has concluded, with the second round set to launch on June 1. The company has requested a specialized analysis of market trading from U.S. market surveillance firm Shareholder Intelligence, while reserving the right to seek recourse for any illegal or manipulative conduct. (Globenewswire)