On Aug. 7, Hollywood’s old guard and Silicon Valley’s disruptors officially merged, as Paramount Global and Skydance Media sealed an $8.4 billion pact to create Paramount, a Skydance Corporation (PSKY).

Shares of newly merged — and highly shorted — media company Paramount Skydance soared Wednesday, fueling a “meme-on-steroids feel.”

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