Paramount Skydance (PSKY) Soars 36.74% on Merger Completion Ranking 39th in $1.95 Billion Trading Volume

Paramount Skydance (PSKY) surged 36.74% on August 13, with a trading volume of $1.95 billion, ranking 39th in market activity. The rally followed the completion of its merger with Skydance, creating a restructured media entity under the Nasdaq ticker.

CEO David Ellison’s leadership and a planned press conference at Paramount’s Los Angeles studio lot fueled investor optimism. The company’s $7.7 billion, seven-year acquisition of UFC rights has positioned it to expand sports and streaming assets, drawing attention from analysts like Guggenheim’s Michael Morris, who highlighted potential $300 million in annual ad revenue from UFC content. However, concerns persist over the company’s reliance on linear TV, which had previously caused share price volatility in early trading post-merger.

Market observers noted the stock’s sharp rise resembled a “meme stock” dynamic, with limited public float (70% controlled by Ellison and RedBird Capital) amplifying price swings. While online speculation on platforms like Reddit contributed to momentum, the surge fell short of the GameStop-level frenzy seen during the pandemic. Ellison’s strategic alignment with his father, Oracle co-founder Larry Ellison, further bolstered perceptions of long-term stability and growth potential.

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