Genius Brands' (NASDAQ: GNUS) partnership with Mattel (NASDAQ: MAT) is expanding to include the Rainbow Rangers characters under the toymaker's Fisher-Price brand. The new toys will be sold on Amazon.com (NASDAQ: AMZN) and in Walmart's (NYSE: WMT) physical and digital retail stores.
Shares of Genius Brands were soaring 32% higher in early morning trading on the news.
More toys in the toy box
The children's video entertainment company said the new toy line has been under development for the past four years and their debut at mass retailers like Amazon and Walmart could mark a significant turning point for the company. Chairman and CEO Andy Heyward said in a statement, "The Rainbow Rangers brand has all of the elements to potentially become a breakout hit and a huge business for Genius Brands."
The toys appeared to be sold out online despite just launching on Walmart.com and Amazon over the weekend.
Rainbow Rangers characters from the animated series currently playing on the Nick Jr. TV channel include Rosie Redd, Mandarin Orange, Anna Banana, Pepper Mintz, Bonnie Blueberry, Indigo Allfruit, Lavender LaViolette and Floof.
Genius Brands has several national distribution outlets for various Rainbow Rangers products. For example, storybooks are available online at Barnes & Noble, Walmart, and Target; DVDs are available at Amazon, Walmart, and Target; and costumes and accessories can be found on Amazon and at Party City.
Genius Brands also said it would distribute commemorative, limited edition, numbered, and hand-signed lithographs featuring the Rainbow Rangers to the first 1,000 buyers with proof of purchase as part of the product launch.
The company had announced back in May the products would be available this month.
10 stocks we like better than GENIUS BRANDS INTL.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and GENIUS BRANDS INTL. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
*Stock Advisor returns as of June 2, 2020
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.