Paranovus shares surge 29.30% intraday after announcing extraordinary general meeting for Class B shareholders.

Paranovus Entertainment Technology surged 29.30% intraday following the announcement of an extraordinary general meeting for its Class B shareholders. The company, which has seen its stock plummet nearly 58% year-to-date, disclosed the meeting via SEC filings and proxy materials, urging shareholders to review details on voting procedures and agenda items. While the specific purpose of the meeting remains undisclosed, the move signals potential strategic action or governance changes, likely spurring investor speculation about corporate developments. The intraday rally suggests market optimism around the meeting’s implications, despite the stock’s prolonged decline.