Live Music Stock rollercoaster continues
Live music stocks fell sharply last week as did the broader U.S. and global stock markets. The rollercoaster ride continued on Monday.
Following the announcement of significant new tariffs by President Trump on Thursday, the markets experienced a sharp downturn that continued into Friday. While the live music industry has historically shown some resilience during economic downturns, this week saw these stocks following the overall negative trend.
In pre-market trading Monday:
- Live Nation Entertainment (LYV) down another 1.66%
- Madison Square Garden Entertainment (MSGE) down another 5.49%
- Sphere Entertainment (SPHR) down another 6.25%
- Venu Holding Corp. (VENU) down another 3.08%
European mega-promoter and ticketing company CTS Eventim AG & Co. KGaA (EVD.DE) closed Monday at 88.55 EU down 1.61%. on the Frankfurt exchange.
As of 12PM ET Monday
- Live Nation Entertainment (LYV) -2.51%
- Madison Square Garden Entertainment (MSGE) -1.51%
- Sphere Entertainment (SPHR) -2.25%
- Venu Holding Corp. (VENU) -0.4%
Live Music Stocks Last Week 4.1 – 4.4.25
U.S. Stocks:
- Live Nation Entertainment (LYV): LYV shares closed on Thursday at $125.93, a significant decrease of 6.48% from the previous close. The downward trend continued on Friday, with the stock down another 5.44%. As of Friday afternoon (4:00 PM EDT), LYV was trading at approximately $120.84, down -4.14% from its opening price of $121.80. Throughout Friday’s session, the stock ranged from a high of $123.04 to a low of $117.83.
- Madison Square Garden Entertainment (MSGE): MSGE also experienced a substantial decline. On Thursday, the stock closed at $31.35, a drop of 7.55%. Friday saw further losses, with the stock down 5.81%. By Friday afternoon (4:00 PM EDT), MSGE was trading at around $29.69, down -5.30% from its opening price of $30.27. The day’s trading saw a range between $29.20 and $30.74.
- Sphere Entertainment (SPHR): SPHR was among the hardest hit in the live music sector this week. On Thursday, shares plummeted by 13.89%, closing at $28.83. The negative momentum continued into Friday, with the stock falling another 9.95%. As of Friday afternoon (4:00 PM EDT), SPHR was trading at approximately $26.72, down -7.35% from its opening price of $27.50. The stock’s trading range on Friday was between $25.44 and $28.19.
- Venu Holding Corp. (VENU): While not experiencing as steep a decline as some of its peers, VENU also saw negative performance. On Thursday, the stock price decreased by 2.14%, closing at $8.90. On Friday, the stock was down 2.51%. However, by Friday afternoon (4:00 PM EDT), VENU was trading at around $8.77, showing a slight increase of 0.11% from its opening price of $8.61. The day’s trading ranged from a low of $8.36 to a high of $9.11.
EU Stock:
- CTS Eventim AG & Co. KGaA (EVD.DE): Traded on the Frankfurt Stock Exchange, EVD.DE also felt the impact of the global market sentiment. On Thursday, the stock closed down by 1.79% at 93.05 EUR. Friday saw a further decline of 4.01% by the close of trading in Frankfurt.
Overall Stock Market Performance:
The overall U.S. stock market experienced significant volatility and a sharp downturn last week, primarily triggered by the announcement of new tariffs.
- On Thursday, the Dow Jones Industrial Average plunged over 1,600 points (3.9%), marking its worst drop since June 2020. The Nasdaq fell by 5.8%, and the S&P 500 declined by 4.7%, officially entering correction territory (defined as a 10% or more drop from its recent peak).
- The negative sentiment continued into Friday, with major indices experiencing further declines in the morning before showing some signs of stabilization later in the day.
