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Monday, February 22, 2021

LIVE NATION STOCK: MORE RECORDS?

Could Live Nation's share price top $90 prior to the announcement Thursday of its 2020 annual results?

The stock opened this morning just under $88 after closing Friday at a record price of $88.09. It's seen a 62% rise over the last six months, a period during which no concerts were mounted, few tickets were sold and the exchange of money came largely in the form of refunds.

The rise in the stock price reflects not only investors’ belief that there is an intense build-up of demand for live entertainment but faith in the cost-saving maneuvers and refinancing plans Michael Rapino has engineered over the last 12 months.

A year ago today, when the 2020 concert landscape appeared to be the busiest ever, the stock sold for about $68, before going on a four-week slide that took it down to below $30.

Stay tuned.

TAGS: Live Nation | Michael Rapino
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