Live Music Stocks: Wednesday Mid-day Update
Live music stocks were beating the markets mid-day Wednesday as the broader indexes wavered after China and the EU announced aggressive reciprocal tariffs.
Mid-Day Wednesday
By Noon ET:
- S&P 500: Down 5.97%.
- Dow Jones Industrial Average: Down 5.50%.
- Nasdaq Composite: Down 5.82%.
- Live Nation Entertainment (LYV) (NYSE): +.73%
- Madison Square Garden Entertainment Corp. (MSGE) (NYSE): -.16%
- Sphere Entertainment Co. (SPHR) (NYSE): -1.52%
- Venu Holding Corp. (VENU) (NYSE American): -3.64%
- EVD.DE (CTS Eventim AG & Co. KGaA) -2.56% on the Frankfurt exchange
In pre-market trading Wednesday
- Live Nation Entertainment (LYV) (NYSE): -1.52%
- Madison Square Garden Entertainment Corp. (MSGE) (NYSE): +0.69%
- Sphere Entertainment Co. (SPHR) (NYSE): -.42%
- Venu Holding Corp. (VENU) (NYSE American): -17.63%
By mid-day Wednesday on the Frankfurt exchange EVD.DE (CTS Eventim AG & Co. KGaA) was down
-3.16%.
Live Music Stocks mixed Tuesday
The overall stock markets experienced another day of fluctuating sentiment on Tuesday, as investors continued to digest economic data and monitor global events.
Investors in the live music industry are watching broader economic trends as well as any company-specific news that could influence these stocks.
Here’s how the selected live music stocks performed today:
- Live Nation Entertainment (LYV) (NYSE):
- Closing Price: $118.81
- Change for the Day: -$2.03 (-1.68%)
- Live Nation continued its downward trend from yesterday, reflecting ongoing market unease and potential concerns about the impact of economic headwinds on live events.
- Madison Square Garden Entertainment Corp. (MSGE) (NYSE):
- Closing Price: $28.90
- Change for the Day: -$0.61 (-2.07%)
- MSGE also experienced a decline today, mirroring the negative sentiment seen in much of the live entertainment sector.
- Sphere Entertainment Co. (SPHR) (NYSE):
- Closing Price: $26.01
- Change for the Day: -4.27%
- After being a relative outperformer yesterday, SPHR saw a significant drop today. This substantial decrease could be attributed to profit-taking after the previous day’s gain or potentially new market analysis impacting investor confidence in the stock.
- Venu Holding Corp. (VENU) (NYSE American):
- Venu bucked the trend Tuesday up to $91.90, an increase of 3.78%
- EVD.DE (CTS Eventim AG & Co. KGaA) (Germany)
- Closed up on the Frankfurt Stock Exchange Tuesday at 91.90 EU , an increase of 3.78%
Overall Stock Market Performance Tuesday
The market seemed to find some footing after the previous day’s concerns, but underlying caution persists as investors await further economic indicators.
The major US stock indices ended the day with a mixed performance:
- The S&P 500 closed slightly lower, down approximately 0.1%.
- The Dow Jones Industrial Average also saw a minor decline, closing down around 0.3%, a drop of roughly 115 points.
- The Nasdaq Composite, however, managed to close in positive territory, up by about 0.2%.
Bruce Houghton
