Skydance (SKYD) Stock Fell 24% Today, and the Reason Is Surprisingly Boring

TLDR Skydance (SKYD) stock fell 24% on Wednesday to $7.06, and dropped as much as 29% at the low. A warrant dividend went ex-dividend. Holders got one warrant per Class B stock, and the 470.7 million warrants are worth about $1.1 billion combined. Each warrant lets the owner buy one Class B stock at $12 for up to 10 years. Discovery+ prices rose to $6.99 (ad-supported) and $11.99 (ad-free) a month. Analysts rate the stock a Hold with a $10.21 average price target, which implies 49% upside. Skydance (SKYD) stock fell 24% on Wednesday to $7.06, a drop of $2.21. At the low, it was down as much as 29%. Skydance Corporation, SKYD The slide erased as much as $2.19 billion in market value at the bottom.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinCentral.