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Tuesday, March 24, 2020

LET'S LYV FOR TODAY

Live Nation’s stock rallied today to close at $42.94, a 15% spike from Monday. In less than a week, the stock price for LYV has nearly doubled from a low of $21.82 on 3/18.

Today’s rally began after Citi changed its rating to neutral from sell, which led to the stock rising $5.61 over Monday’s close. The company’s valuation, which has been dramatically changing since the pandemic led to uncertainty in the live music field, is now close to $7.5b.

Besides LYV, the market was bullish on Sirius XM (up 10% to $4.98) and iHeartMedia (up 8.8% to $9.02) today. The S&P 500 was up 9.4%.

Now everybody sing "sha-la-la-la"...

 
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