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Thursday, October 12, 2023

UMG STOCK HITS
22-MONTH HIGH

Universal Music Group’s stock price cracked the €25.50 mark ($26.91) for the first time in nearly two years Wednesday and has continued to rise today (10/12), pushing its valuation to almost $50b. Universal has not seen the €25.50 mark since the early days of it's going public two years ago.

UMG stock hit a new 52-week high of €25.64 ($27.05) today, closing at €25.56 on the EuroNext market. On Wednesday, it closed at €25.35.

The stock has been on a steady four-month climb since closing at €18.50 on 5/31. It's up nearly 50% in the last 12 months.

At the current price, UMG’s valuation is €46.14b, which will certainly give Sir Lucian Grainge something to crow about when UMG announces its Q3 results on 10/26.

TAGS: Universal Music Group | Lucian Grainge
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