US EditionCNBC Sport: Paramount Makes a Big Bet Before the U.S. Sports Media Doldrums
Paramount’s stock rose over 30% after completing the Skydance merger and securing UFC rights in a $7.7 billion, 7-year deal, driven by investor optimism and heavy trading volume.
- Paramount Skydance Corp saw its shares surge up to 60% to $17.53 on August 13 amid heavy trading in Los Angeles.
- This sharp increase followed the recent completion of Paramount's merger with Skydance Media and the announcement of a $7.7 billion, seven-year UFC rights deal starting in 2026.
- Trading volume reached 100 million shares with short interest around 80 million shares, highlighting speculative activity and a relatively small public float of about 30%.
- CNBC host Jim Cramer labeled Paramount Skydance a meme stock, calling the rapid gains 'shocking' due to the 'small float' and noting social media interest.
- The stock's volatility and renewed investor optimism, fueled by the merger and UFC deal, suggest potential swings ahead as leadership prepares a press conference at Paramount's L.A. studio.
15 Articles
15 Articles
Paramount Skydance is being called a meme stock after a 60% surge
The FCC agreed to Skydance's acquisition of Paramount Global.PATRICK T. FALLON/AFP via Getty ImagesParamount-Skydance shares popped as much as 60% on Wednesday. The huge rally had some calling it a meme stock during the session. Shares of the media company have popped since its recent merger and news of a UFC deal. There might be a new addition to the meme stock rally ripping through the stock market this summer. Paramount-Skydance was being cal…
Paramount Stock Goes up by staggering 40% following UFC Deal
The entertainment industry witnessed a remarkable surge Wednesday as Paramount Skydance shares soared dramatically. It ended up closing at $15.00 with gains of 36.74%. The movement came just days after the newly merged media company secured a landmark $7.7 billion agreement. It granted CBS and Paramount+ exclusive U.S. broadcasting rights for all UFC events starting in 2026. Trading activity reached extraordinary levels, with more than 131.1 mil…
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