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Shares of Skydance Corp., formed through the merger of Paramount and Warner Bros. Discovery, fell as much as 27% in trading on Oct. 14. The drop came as the Skydance, led by chairman and CEO David Ellison, distributed about 471 million warrants giving holders of Paramount Skydance's PSKY Class B shares the option to…
Skydance shares closed down 22.2% Wednesday after the media giant distributed nearly 471 million stock warrants to eligible shareholders.
Skydance share price dips by 25% following a massive 471 million warrants rollout to Paramount investors.