Skydance Warrants Play Brief Havoc With Stock Price -- WSJ

By Ben Dummett

Skydance's stock briefly sank as much as 18% in premarket trading today before being halted. But all is not what it seems.

The media and entertainment giant is the creation of the just-completed $81 billion merger between Paramount Skydance and Warner Bros. The challenge now is for the company to prove the deal will work out.

But that uncertainty isn't what's driving today's share-price move. Instead, the drop is largely a technical adjustment. Stock warrants issued as part of the deal and are expected to begin regularly trading today separately from Skydance's stock under the symbol SKYD.WS.

That means the value of the warrants is no longer reflected in Skydance's stock price. Investors will need to add the separate prices of the stock and warrants once Skydance's shares resume trading to calculate a combined value.

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(END) Dow Jones Newswires

October 14, 2026 06:45 ET (10:45 GMT)