India, June 16 -- Shares of SRM Entertainment, Inc. (SRM) gained over 250% on Monday morning after Hong Kong-based crypto entrepreneur Justin Sun's blockchain group Tron announced plans to go public in the United States in a reverse merger with SRM Entertainment.

SRM is currently trading at $5.07, up $3.62 or 249.66%, on a volume of 68 million, above average volume of 0.5 million, on the Nasdaq. The stock opened trading at $5.50 after closing Friday at $1.45. The stock has traded between $0.26 and $6.70 in the past 52-week period.

SRM Entertainment announced that it has entered into a Securities Purchase Agreement with a private investor for a $100 million equity investment that will be used by SRM to initiate a TRON Token Treasury Strate...