Stock market
Sell The Bailout: Skydance Tumbles As Musk's $1 Billion Check Reminds Everyone Paramount Needs One
Sell The Bailout: Skydance Tumbles As Musk's $1 Billion Check Reminds Everyone Paramount Needs One It took about ten minutes. Just after noon on Thursday, Semafor reported that Elon Musk has invested roughly $1 billion in Skydance (SKYD), the newly renamed Paramount-Warner Bros. Discovery combo run by David Ellison. The stock did what stocks are supposed to do on a billionaire endorsement and spiked to $8.46, up 7.5% on the day. Then traders actually thought about it, and by 12:10pm the shares had been halted for volatility after tumbling, before printing a low of $7.53 once trad