Live Music Stocks fall Thursday
UPDATED: Live music stocks gave up Wednesday’s gains on Thursday as markets digested the long term impact of Trump’s tariffs and trade wars.
Wednesday’s gains were part of a broader market surge following President Trump’s announcement of a 90-day pause on many newly introduced tariffs, excluding those on China.
By early afternoon Thursday, Live Nation Entertainment Inc. (LYV) was trading down 2.4%.
Pre-market Trading Thursday
- Live Nation Entertainment Inc. (LYV): -1.33%
- Madison Square Garden Entertainment Corp. (MSGE): -.06%
- Sphere Entertainment Co. (SPHR): -6.36%
- Venu Holding Corp. (VENU): -2.71%
Europe bucks the trend
By mid-day Thursday European concert and ticketing giant CTS Eventim AG & Co. KGaA (EVD.DE) was trading at $93.20 up 4.08% on the Frankfurt exchange.
Live Music Stocks Were Up Wednesday Exceeding Market Rally
- Live Nation Entertainment Inc. (LYV): Closed at $131.75, up $12.88 (+10.84%) from the previous close.
- Madison Square Garden Entertainment Corp. (MSGE): Ended at $31.99, an increase of $3.12 (+10.80%).
- Sphere Entertainment Co. (SPHR): Finished at $30.97, rising by $4.97 (+19.11%).
- Venu Holding Corp. (VENU): Closed at $8.87, up $0.48 (+5.64%).
In summary, live music stocks mirrored or exceeded the broader market’s positive response to the tariff developments, reflecting renewed investor confidence in the sector.
Wednesday Market Overview
The overall market also experienced a robust rebound:
- S&P 500: Surged by 7.87%.
- Dow Jones Industrial Average: Increased by 6.73%
- Nasdaq Composite: Rose by 10%.
This rally was attributed to investor optimism following a 90 pause on most tariffs, alleviating concerns about potential recessionary pressures.
