Shares of Paramount Skydance surged sharply on August 13, 2025, with the stock rising as much as 60% intraday and closing up around 37%. The rally drew comparisons to meme stock behavior due to the company's small float and high trading volume. Prominent market commentators, including CNBC's Jim Cramer, labeled Paramount Skydance a meme stock amid the surge. Speculation circulated on unverified sources about investor Bill Hwang potentially buying the stock from prison, reminiscent of his 2021 trading activity, although this claim has not been confirmed. The sharp price movement placed Paramount Skydance among the day's biggest stock gainers alongside names like Cava, Capri, and SailPoint.