Genius Group stock jumps; education company sees 2023 revenue of $48m to $52m

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Genius Group Ltd. GNS, +3.09%, a Singapore-based education company, set guidance for 2023 on Monday, saying it expects revenue of $48 million to $52 million, up 37% from its 2022 proforma guidance. The company, which captured headlines last week when it said it had appointed a former F.B.I. director to lead a task force investigating alleged illegal trading in its stock that it first disclosed in early January, said it expects the number of students attending its entrepreneur-training courses to climb to 5.7 million to 6.0 million, up 30% from 2022. The company expects to achieve adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization, of $500,000 to $1.0 million. “In 2023 we are expecting Genius Group to continue our strong growth trajectory, and we are focused on managing our costs and achieving positive EBITDA,” Chief Executive Roger Hamilton said in a statement. The stock jumped 15% premarket. On Thursday, the stock soared a record 290% in heavy volume. Hamilton told MarketWatch on Friday about the company’s plan to go after people or groups that have been engaging in naked short selling of its stock.

This article was originally published by Marketwatch.com. Read the original article here.

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