Vivendi stock hit a 19-year high Thursday in the wake of UMG's capital markets day presentation to European investors, over which Uni topper Sir Lucian Grainge presided on 8/25. Trading for the music giant's IPO will kick off 9/21 on Euronext Amsterdam.
French parent Vivendi saw a 4.4% boost in its shares and hit a high of €32.86 ($38.07) on 8/26 before closing at $37.08. The stock is up nearly 14% from $33.22 a month ago.
Citi, which appears to know a thing or two about finance, remarked that UMG "did a very good job in using its first capital markets day to unveil its own outlook," per a Dow Jones Market Talk story, which also notes UMG's "hugely strong position in the industry" and the increasing predictability of music earnings thanks to subscription revenue.
BEY LEADS ARRAY OF FEMALE STARS IN GRAMMY NOMINATIONS
Adding up the numbers (11/8a)
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NOW WHAT?
We have no fucking idea.
COUNTRY'S NEWEST DISRUPTOR
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