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MarketBeat
MarketBeat
Leo Miller

Is Paramount Skydance a Buy Post-Merger, Short Squeeze?

Paramount Paramount Skydance Skydance David Ellison Larry Ellison PSKY short squeeze MarketBeat UFC

Since it began trading under its new name on August 7, shares of Paramount Skydance (NASDAQ: PSKY) have put on an impressive showing. As of the August 18 close, shares are up 15%. The new company is looking to reinvent the traditional media giant with a tech-centric approach.

However, there is a problem: every Wall Street price target tracked by MarketBeat indicates that shares are already overvalued. However, the company is making big-time moves to shake up the entertainment landscape.

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