According to a CNBC report, Haskett quipped that the stock’s sharp rally confirmed what many feared: the company had become a speculative playground, a ‘playpen for momentum goons’.
Paramount Skydance Corp. (PSKY) stock has reportedly become a hot pick for retail traders, who rushed into the stock following excitement over recent UFC-related news, said Don Bilson, head of event-driven research at Gordon Haskett.
According to a CNBC report, Haskett quipped that the stock’s sharp rally confirmed what many feared: the company had become a speculative playground, a ‘playpen for momentum goons’, a reference to aggressive retail trading behavior.
Paramount Skydance stock slid over 7% by mid-morning Thursday. On Stocktwits, retail sentiment toward the stock remained in ‘extremely bullish’ territory amid ‘extremely high’ message volume levels.
Paramount’s $8 billion merger with Skydance received Federal Communications Commission clearance in late July, paving the way for completion of a transaction that was announced a year ago.
In its first week of trading following the merger, the stock spiked by as much as 37% in a single day. The surge positioned PSKY as the top gainer within the S&P 500, said the report.
Bilson called the stock ‘a newly certified meme stock,’ according to the report.
The company’s seven-year deal for the U.S. rights of TKO Group Holdings Inc.’s (TKO) UFC for $7.7 billion also fueled the stock’s momentum. Under the agreement, Paramount will hold exclusive rights to broadcast all UFC events across the U.S. Beginning in 2026, the company’s streaming service, Paramount+, will be the sole platform for airing UFC’s full slate of 13 marquee numbered events and 30 Fight Nights.
Paramount Skydance stock has gained over 19% since August 7.
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