MarketPR
Skydance (SKYD) shares closed at $7.06, down 23.84%, as 471 million warrants began trading separately from the stock on the ex-distribution date.
The company issued these warrants to former Paramount Skydance (PSKY) Class B shareholders, granting them the right to purchase new Skydance shares at a strike price of $12 each.
The detachment of the warrants from the share price triggered an immediate valuation adjustment for SKYD.
Skydance, described as a global studio, streaming, and TV media conglomerate, completed its initial public offering in 2026 and has declined 26% since going public.
Keep reading