Why Shares of Eros International Surged Higher on Wednesday

Last week, Eros International (NYSE: EROS) announced a merger with STX Entertainment. The stock traded up and down initially, but on Wednesday, shares were steadily heading higher. As of 3:45 p.m. EDT today, it was up 17.5%, after hitting a 20% gain during the session.

The new company will be called Eros STX Global Corporation, and it appears to be attracting investor attention due to its streaming service opportunity.

Could Eros STX offer a popular streaming service? Image source: Getty Images.

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Source Fool.com