Paramount Skydance, over its first full week on the stock market under new owners, saw its stock jump 30% — and boomed as much as 60% in intraday trading Wednesday. But what triggered the investor enthusiasm wasn’t totally clear.

Shares of the newly merged media conglomerate rallied on increased volume Wednesday after a stock commentator pointed out something about the company's stock float.

The new owners of the venerable studio, now trading as PSKY, have seen a stock rally of 30 percent over two days.