UPDATE: Genius Group stock up another 97% in premarket trade Friday in heavy volume

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Genius Group Ltd. stock GNS, +290.29% rallied another 52% in premarket trade Friday, extending its prior-day gains after the Singapore-based education company announced it had appointed a former F.B.I. official to probe alleged illegal trading in its stock. The stock rose a record 290% on Thursday in heavy volume and saw 7.2 million shares change hands premarket Friday. The company said Timothy Murphy, a former deputy director of the F.B.I., will lead a task force investigating naked short selling of its stock that has depressed the price. The company is also issuing a special dividend to shareholders to help expose the wrongdoing.

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

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