PSKY is trading at $10.31 (+4.67%) following reports that the company has secured nearly $24 billion in equity from sovereign wealth funds, led by Saudi PIF, to finance its $110 billion bid for Warner Bros. Discovery.
- The major M&A development is driving significant gains for the stock, which has risen steadily over the past week despite broader market volatility.
- Shares are notably bucking the current market downtrend, with the S&P 500 and NASDAQ falling 0.44% and 0.58%, respectively.