Live Nation Stock Fights Back After Wednesday’s Brutal Sell-Off
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variety.comFew imaginable things could impact the live-entertainment business as much as a global pandemic, and not surprisingly, Live Nation, the world’s largest concert promoter, has taken a beating on the stock market over the past two weeks.
On a particularly rough Wednesday, its share price dropped 33% at one point in the afternoon — down more than 61% from its year-over-year high last month — before recovering after President Trump’s aid package to U.S.
taxpayers boosted the market and it finished the day down 13% at $29.50. Live Nation was not alone, as Madison Square Garden Company shares dropped 10% on Wednesday and German live-entertainment giant CTS Eventim fell nearly 6%.
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