Paranovus Entertainment Technology (PAVS) Stock Rallies Over 34% After Hours: Here's What Is Going On

▤ Summary

Paranovus Entertainment Technology’s stock rose sharply after hours following disclosure of a completed asset purchase. The company bought Jabanero’s U.S. trademarks, customer data, inventory, and social media accounts for $33 million in staged cash payments. Paranovus said the deal should create synergies with its existing social commerce business. The filing also notes that Jabanero keeps EU and UK trademark rights under a right-of-first-refusal arrangement. Paranovus describes itself as an AI-driven games and applications company.

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