Why Genius Group Shares Are Trading Higher Today

Genius Group GNS shares are trading higher after the company's board approved the spinoff of its Entrepreneur Resorts subsidiary.

Entrepreneur Resorts Ltd is a public listed company on the Seychelles MERJ Stock Exchange with a market cap of $37 million. 97% of outstanding shares are owned by Genius Group. The company operates a Bali resort, South Africa safari and co-working cafes in Bali and Singapore.

Genius Group CEO, Roger Hamilton, stated "We are fortunate to already have two public listed companies within the group, making a spinoff a viable option. While the MERJ exchange does not have high trading liquidity like the NYSE American, our future plan is to list Entrepreneur Resorts on a larger exchange."

GNS Price Action: Genius Group has a 52-week high of $36.7499 and a 52-week low of $0.301.

Genius Group shares are up 47% at $5.81 at time of publication, according to Benzinga Pro.