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

Short interest as a percentage of Paramount Skydance’s public float of shares is 13.4%. That compares with 4.3% for Warner Bros. Discovery Inc.’s stock and about 1.1% for Walt Disney Co.’s stock and 1.2% for Comcast Corp. shares A key metric, short interest refers to the number of shares that have been used to bet that prices will fall.

Paramount Skydance was the biggest gainer and one of the most active stocks in the S&P 500 on Wednesday. A flurry of excitement around the recently formed media conglomerate is sending shares skyrocketing.