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TAKING STOCK IN MUSIC COMPANIES

As the accountants pore over the spreadsheets to prepare quarterly and full-year reports, the share prices of several music-related stocks are enjoying healthy spikes in the new year, with Spotify and Sony leading the way.

Spotify sits at an all-time high of $353 as the market opens today, a $41 rise from a week ago. Sony Corp. starts the day at a 52-week high of $104.

And they’re not alone.

Warner Music Group, which bounced around the mid- to high-20s from early summer to Thanksgiving, saw a price jump in the first half of December and is opening today over $36. In early trading in France, Universal Music Group owner Vivendi is trading near its 52-week high of $26.68, up from $22.45 in late July.

All of those companies have had income during the pandemic. One that did not, Live Nation, is still flying high, opening at $73.46 this morning, three bucks shy of its 52-week high. It enjoyed a nice ride the first week of the year from a price of $70 a share.

Major stock indexes hit record highs last week as investors placed their bets on the new Democratic-controlled Congress' pumping cash into government spending to speed up the economic recovery. This morning, however, the S&P 500, Nasdaq Composite Index and Dow Jones Industrial Average were down as investors react to an increase in COVID-19 cases, a sagging labor-market report and the unpredictability of President Trump.  

Are investors jumping in for a quick dividend or are these bullish, long-term investments? Stay tuned.  

 

MIDYEAR VINYL TOP 50
The world is turning at 33 RPM. (7/26a)
PAUL GETS BACK
Hit series doesn't let us down. (7/26a)
HITS LIST IN GLORIOUS
BLACK-AND-WHITE
The inner circle of Outer Limits (7/26a)
MIDYEAR SONG ACTIVITY & STREAMS
Olivia's in the driver's seat. (7/26a)
THE NEW KID IN TOWN
Thunder from Down Under (7/26a)
NEW & DEVELOPING ARTISTS
From tender shoots to mighty oaks.
MARKETSHARE MANIA
Let's do the numbers.
DELTA VARIANT
It is not the name of a Henry Miller novel.
IS IT TIME FOR ANOTHER ROCK STORY?
Could be. Dunno.
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