RUMOR MILL
Back to Rumor Mill >
Tuesday, October 12, 2021

WMG STOCK SOARS

Warner Music Group opened on the Nasdaq this morning at a record high of more than $46 a share. The stock is up 25% since the start of the year.

The Steve Cooper-led conglom has reached new heights over the last month, having topped $40 a share at the close on 9/10. The stock closed at $46.12 on Monday and $45.64 on Friday; it opened today at $46.46.

The surge follows Morgan Stanley analyst Ben Swinburne's setting a price target of $53 for the stock. As we’ve seen with other publicly traded companies in the music business, the rosy outlook owes to a faith in streaming growth, more income from new platforms such as gaming and exercise equipment and the reopening of the concert business.

WMG's market cap is $23.24b.

TAGS: Warner Music Group | Steve Cooper | stock market
WMG SETS A RECORD; SELLS A LOT OF STOCK
WMG'S ROBUST Q3
< PREVIOUS STORY
BACK TO RUMOR MILL
 
TORTURED POETS UNITE: TAYLOR IS BACK
Is she ever. (4/19a)
Check It Out Now
HITS LIST ENTERS
PLAYOFF MODE
Will the scoring record be broken? (4/19a)
Check It Out Now
SONG REVENUE: CALM BEFORE THE STORM
J. Cole has his moment; Future-Metro have another big payday. (4/19a)
Check It Out Now
WARNER CHAPPELL ROPES IN RED CLAY STRAYS
Another big get for Guy and Carianne (4/19a)
Check It Out Now
THE COUNT: COACHELLA, FROM THE COUCH
The coziest way to experience the fest (4/19a)
Check It Out Now
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

By clicking submit you are agreeing
to Terms and Conditions