Paramount Skydance Stock Surges 40% After Being Dubbed a Meme Stock

Shares of Paramount Skydance (PSKY) skyrocketed nearly 40% in a single trading session after CNBC's Jim Cramer labeled it a "meme stock." The surge followed Cramer's tweet highlighting the company's "small float," a characteristic common among stocks prone to retail-driven volatility.

Trading volume exploded to 130.9 million shares—more than triple the recent average—as speculative buyers piled in. The phenomenon mirrors past meme stock frenzies where limited share availability amplified price movements detached from fundamentals.

Market observers note the incident underscores how social media commentary can rapidly alter trading dynamics for stocks with specific technical conditions. The newly merged media conglomerate now joins the ranks of companies whose valuations briefly decouple from traditional metrics.