Paramount Global Stock Sinks on Merger Fallout

PARA is down nearly 30% so far in 2024 Shares of Paramount Global (NYSE:PARA) are down 1.6% at $10.86 this morning, after the company's largest shareholder, Shari Redstone, eliminated merger talks with Skydance Media. This comes after six months of negotiations began. The stock remains at multi-year lows and sports a 26.2% year-to-date deficit, with overhead pressure stemming from the 200-day moving average. Short interest has been unwinding for months on PARA, with a 15% drop in the most recent reporting p ...