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

After climbing 8.4% Tuesday, Paramount Skydance shares were up 32% to $14.49 in trading Wednesday. That’s the best two-day stretch on record dating back to Paramount’s initial public offering in 1990, according to Dow Jones Market Data. The company was a recent Barron’s stock pick.

After shares of the new Paramount Skydance shot up double digits, Wall Street watchers compared it to a meme stock.