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Yahoo
4 hours ago
- Yahoo
Paramount Skydance Stock Jumps Double Digits After Getting Meme Label
Key Takeaways Paramount Skydance shares jumped nearly 40% Wednesday after CNBC stock commentator Jim Cramer called it a "meme stock." The newly merged media conglomerate experienced a surge in trading volume after Cramer's tweet noting the company's "small float" of shares available to the public. Other meme stocks in recent years have also been propelled higher by a limited float or trading frenzies not based on the companies' underlying fundamentals. Paramount Skydance, the media conglomerate newly created with the merging of giants Skydance Media and Paramount Global, just hit a major cultural milestone: It's been "memed." Shares of Paramount (PSKY) closed nearly 40% higher on Wednesday afternoon at $15. Average volume in the stock for the three trading days after the deal closed on Aug. 7 was around 40.6 million, but jumped to 130.9 million on Wednesday amid the buying frenzy. Though the stock started to climb at the market's open, it soared higher after CNBC's "Mad Money" show host Jim Cramer tweeted: "Paramount (PSKY) is a meme stock!!!!!!!!!!!!!! Small float ... shocking." The term Cramer used—float—refers to the number of a company's shares available to the public, calculated by taking total shares outstanding and subtracting any restricted or insiders' shares. A small float, which would allow a group of people to move the share price substantially, is a quality that meme stocks usually have in common. They also may experience sharp swings in their share price not based on their underlying fundamentals. Other notorious meme stocks include American Eagle Outfitters (AEO), Kohl's (KSS), and GameStop (GME). Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
5 hours ago
- CNBC
Many business travelers are quietly taking their families along on trips
When American Natasha Colkmire returned to work after having her first child, she didn't want to leave her newborn son with a nanny to go on a business trip. So she convinced a family member to tag along. "They would meet up with me when my son needed to be nursed," she said. "We also had the evenings together." The trip worked so well that Colkmire took more business trips with non-colleague companions. "My grandma went to Houston with me, a friend went to St. Paul, and my mom helped me when I needed to do a job in Washington D.C.," she said. "Each person loved getting the free trip." More than half of business travelers (55%) have had loved ones join their work trips, according to a survey of 4,000 adults from the United States, United Kingdom, Germany and Spain published Wednesday by the travel tech company TravelPerk. Among C-suite executives, the number jumped to 73% — with travelers saying they've had partners (53%), children (22%), friends (21%), and even pets (7%) tag along, according to TravelPerk's data. For some, bringing loved ones on business trips isn't just a perk — it's a way to reclaim time together, according to Jean-Christophe Taunay-Bucalo, TravelPerk's president and COO. "Traveling for work can be lonely," he told CNBC Travel. "Work trips can be an opportunity to experience something new, and by taking a loved one along, you remain connected." Plus, business travelers don't have to miss family time, be it bedtimes or birthdays, said Taunay-Bucalo. "For me, it's about having the best of both worlds, and sometimes performing at my peak also means seeing my kid at the end of a work day — it provides some normality," he said. Other business travelers who spoke to CNBC said there is another motivation — money. Colkmire, who now runs a travel website, recalled the time she joined her husband on a work trip to Vienna, Austria. "Our expense was cut in half, which was a huge blessing so that we were able to explore an area of the world that we had not yet been to without breaking the bank," she said. Bridgette Borst Ombres, a former journalist turned public relations consultant, said she has used work trips to create "budget-friendly mini-vacations" for her family. "Attending a tech conference at Disney World in Orlando, Florida, was the perfect business trip to bring along my husband and then-2-year-old daughter," she said. "The conference lasted two days, so while I was working, my husband took our daughter to visit his dad, who lived in the area, and we'd meet up for dinner in the evenings." After the conference ended, Ombres and her family spent a few days at Walt Disney World. "My hotel was covered by my company for the first two days, but I paid for the additional nights and all of our activities. My plane ticket was also covered by the company but I purchased my husband's ticket separately," she said. That blend of personal and business travel, or "bleisure" as it's known, was valued at $315 billion in 2022 by Allied Market Research. The advisory firm projects blended trips will reach $731 billion globally by 2032. Bringing loved ones on business trips is common and generally accepted, said Frank Harrison, regional security director for the Americas at risk management company World Travel Protection. However, that doesn't mean that employees are revealing their plans to their companies. "I didn't keep [my] travel plans a secret, nor did I broadcast them to coworkers," Ombres said. "Part of it was worrying it might come across as unprofessional." Deepak Shukla, CEO of the London-based marketing company Pearl Lemon, said he's turned three-day work trips into week-long adventures with his wife in New York City, Lisbon, Dubai and Tokyo. "I don't hide it from my team," he said. "If the work's done and costs aren't creeping into the company card, it's nobody's business." However, he said big corporations often view traveling with family as a "policy grey zone." "The sticking points are expense claims, insurance coverage, and whether leisure days blur into workdays ... [which are] messy for tax and liability," he said. "That's why some companies quietly allow it but expect employees to keep receipts and activities clearly split." Ombres said allowing family and friends to join business trips can boost morale and build loyalty among employees. "I'm all for it," she said. "As long as it doesn't interfere with the work." She said she sets clear expectations for work to be completed on trips, and as long as that's met, "there's no reason to try to micromanage how people spend their personal time." Gabe Richman, CEO of Seattle-based biotech company Omic, agreed, saying he's combined work trips with family vacations in San Diego and Frankfurt, Germany. He said he encourages employees to travel with loved ones as long as "business objectives are met first." He said employees should clearly separate personal and work expenses and ensure companies incur no additional costs. Travelers should also be transparent about their plans with their companies, he said. Beyond that, travelers should make the most of the trip — for business and pleasure. "Business takes me to places we'd never vacation to otherwise." he said. "Why waste the opportunity?"
CNBC
6 hours ago
- CNBC
Here's why Jim Cramer thinks this market is a 'buyer's paradise'
CNBC's Jim Cramer on Wednesday explained why he thinks this market is favorable for buyers, saying there is widespread bullish fervor that reminds him of times before the dotcom bubble made some retail investors less interested in the market. "Yes, the good times are rolling," he said. "It's not the end of the world. It's just the end of the staid world of just nothing but index buying." Cramer celebrated Wednesday's session, which saw the major indexes soar to record heights. He said it's a "mad dash" to make money in a variety of places, including mergers and acquisitions, initial public offerings and "giant upside surprises." Retail investors lost their enthusiasm for investing after the bear market of the early 2000s, he said. To Cramer, some investors did not expect to make much money in individual stocks, except for certain giants that made up FANG and the Magnificent Seven. Cramer argued that money is moving all over the market as retail investors become excited by different companies and parts of the business world, selling one popular stock in a certain sector to buy another. For example, he suggested some investors who poured into red-hot cryptocurrency IPO Bullish on Wednesday might have pulled investments from trendy artificial intelligence names like Circle and Palantir. "It's not a gangster's paradise. It's a buyer's paradise," Cramer said. "Get used to it. Because it very well may be here to stay." Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest
