Paramount Skydance emerged as a potential meme stock on Wednesday, with the shares soaring 60% during the session.

Last week Skydance Media and Paramount Global completed a drawn-out merger process. The ink was barely dry as the newly merged company clinched a blockbuster $7.7 billion deal wit

After shares of the new Paramount Skydance shot up double digits, Wall Street watchers compared it to a meme stock.