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Todd Spangler
NY Digital Editor
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Zuffa LLC David Ellison said the vision behind Skydance Corp., formed Tuesday by the closing of the Paramount-Warner Bros. Discovery merger, was to “create a stronger competitor” and build a company that “empowers creatives, entertains audiences and rewards shareholders.”
But on Day One of the new Skydance, investors seem skeptical of its prospects: Shares of the company, newly listed on the New York Stock Exchange under the ticket symbol “SKYD,” drooped 2.7%, closing at $9.51 per share at the close of regular trading Tuesday. During the day, the stock was down as much as -6% but briefly crossed into positive territory with an intraday high of $9.84/share.
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