Live Music stock slide continues Friday
On Friday publicly traded major live music stocks continued their downward spiral along with the overall markets. In the past, music has been somewhat recession proof and market observers thought that trend might continue since live music is not directly affected by tariffs.
Live Music stocks slide continues Friday
Before the markets opened Friday, Live Nation stock was down another 4.82% with overall markets down just under 4% in pre-market trading.
By mid-morning Friday:
- Live Nation Entertainment (LYV) was down another 5.44%
- Madison Square Garden Entertainment (MSGE) was down 5.81%
- Sphere Entertainment (SPHR) down 9.95%
- Venu Holding Corp. (VENU) down 2.51%
- CTS Eventim AG & Co. KGaA (EVD.DE) closed the day in Frankfurt down 4.01%
Thursday
On Thursday the stock markets experienced significant volatility following the announcement of sweeping new tariffs by President Trump. The Dow Jones Industrial Average plunged over 1,600 points (3.9%), marking its worst drop since June 2020. The Nasdaq fell 5.8%, and the S&P 500 declined 4.7%, entering correction territory.
Here’s an overview of live music stock performance on Thursday:
Live Nation Entertainment Inc. (LYV)
LYV shares closed Thursday at $125.93, down 6.48% from the previous close. The stock traded between $125.64 and $130.53 during the session, with an opening price of $129.00 and a volume of approximately 2.6 million shares.
Madison Square Garden Entertainment Corp. (MSGE)
MSGE’s stock ended the day at $31.35, a decline of 7.55%. The day’s trading range was between $30.52 and $33.19, opening at $32.49, with around 198,000 shares changing hands.
Sphere Entertainment Co. (SPHR)
SPHR shares fell by 13.89%, closing at $28.83. The stock fluctuated between $28.43 and $35.38 during the day, opening at $31.47, with a volume of over 1 million shares.
Venu Holding Corp. (VENU)
VENU’s stock price decreased by 2.14%, closing at $8.90. The day’s range was $8.55 to $8.90, with an opening price of $8.53 and a trading volume of approximately 15,500 shares.
CTS Eventim AG & Co. KGaA (EVD.DE)
CTS Eventim AG ended the day at 93.05 EUR down 1.70 EUR or 1.79%.
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Disclaimer: Investors should monitor ongoing market trends and company-specific news to make informed decisions in this dynamic environment.
