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Paramount Skydance Stock Surges 36% Despite Jim Cramer’s ’Meme Stock’ Label
Paramount Skydance Stock Surges 36% Despite Jim Cramer’s ’Meme Stock’ Label
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BTCCSquare news:
Paramount Skydance Corp (NASDAQ: PSKY) defied expectations with a 36% rally on Wednesday, hours after CNBC's Jim Cramer dismissed it as a 'meme stock' on X. The surge coincided with the completion of its merger with Skydance Media—a deal that expands its content library and global distribution network.
Market observers noted the irony of PSKY's rally following Cramer's bearish tweet, dubbing it the 'Inverse Cramer' effect. The stock leapt from $11.19 to $15 in a single session, turning a $1,000 investment into $1,360. While Cramer's commentary sparked chatter, the merger's strategic value drove the real momentum.
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