TechFlow News, May 30: According to a GlobeNewswire report, Genius Group—a U.S.-listed Bitcoin treasury company—announced on May 27 that its stock price surged abnormally from $0.24 to $0.52, representing an intraday gain of up to 116%. As a result, the company is responding to the NYSE American’s request for clarification regarding unusual market trading activity.
Genius Group stated that no material undisclosed developments have occurred in its business or operations, and it has identified no other factors that could explain the abnormal stock price movement. The company confirms it is not engaged in any undisclosed transactions involving shareholders, directors, or executives. Previously, its Board of Directors approved an AI Treasury Strategy, under which it plans to invest up to $100 million into the AGI Infinity portfolio—including investments in SpaceX and OpenAI. Additionally, its first round of Bitcoin shareholder reward program has concluded, and the second round will commence on June 1. Genius Group has requested Shareholder Intelligence, a U.S. market surveillance firm, to conduct a specialized analysis of the market trading activity and reserves the right to pursue legal action against any illegal or manipulative conduct.
