Why Genius Sports Stock Is Rising After Hours

Genius Sports Ltd GENI shares are trading higher in Wednesday's after-hours session following a report indicating the National Football League has become the largest U.S. shareholder in the sports technology company.

According to a Sportico report, the NFL is now the largest American owner in Genius Sports with a 7.7% stake after a fresh batch of warrants were vested last week. 

Genius Sports is a business-to-business provider of scalable, technology-led products and services to the sports, sports betting and sports media industries.

See Also: This Company Wants Its Sports Analytics To Be A Game Changer For Fans, Coaches, Teams, And The Sports Betting Industry

GENI Price Action: Genius Sports shares have traded between $4.16 and $25.18 over a 52-week period.

The stock was up 7.28% in after hours at $5.01 at time of publication.

Photo: Pexels from Pixabay.