Wall Street Skittish on Skydance as Stock Drops Further Post-Merger

By Corbin Bolies

Corbin Bolies

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It’s day two of David Ellison‘s Skydance Corp. merger gamble, and so far Wall Street isn’t eager to bet on it.

Shares in the post-merger Skydance, trading on the New York Stock Exchange under the ticker symbol “SKYD,” were down nearly 8% as of 10:40 a.m. ET on Wednesday, hovering at around $8.82/share. That was already down from the $9.51 per share price it closed at on Tuesday, when it dropped roughly 2.7% for the day. Ellison closed his $111 billion merger of Paramount Skydance and Warner Bros. Discovery on Tuesday.

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