SurgePays (SURG) Stock Surges 60% After Hours: Why is it Moving? SurgePays Stock Jumps 60% After Hours on

SurgePays, Inc.

(NASDAQ:SURG) shares surged 59.76% to $0.36 in after-hours trading Wednesday following the announcement of the formation of Redline Wireless Group, LLC, a Wyoming-based joint venture targeting prepaid wireless distribution.

Joint Venture Expands Distribution Reach SurgePays, a Tennessee-based wireless and fintech company, said it will own a 51% controlling stake in Redline.

An unnamed major wireless master distributor will hold the remaining 49% noncontrolling stake.

Redline brings together SurgePays' Mobile Virtual Network Operator infrastructure, including its LinkUp Mobile brand, billing systems and operations center, with the partner's network of more than 20,000 active independent prepaid wireless dealers across the country.