PAVS Stock Jumps Again, $195M Share Sale Filing in Focus
Paranovus Entertainment Technology Ltd. jumped in early premarket trading Wednesday after it filed to sell up to $194,999,999.75 of shares through an at-the-market offering. Shares of PAVS were at $1.22 as of 4:11 a.m. EDT, gaining 19.6% from the prior close at $1.02. PAVS moved hard on Tuesday as the stock opened at $1.55, soared to $26.69, dropped as low as 95 cents, and closed up just 8.45%. Volume topped 218 million shares, much heavier than usual. StockAnalysis put the market cap at about $1.07 million. That made the headline maximum in the filing stand out compared to the quoted equity value.