Why Live Nation (LYV) Stock Is Down Today
Stock Story
Published Apr 16, 2024 11:09AM ET
Updated Apr 16, 2024 11:31AM ET
Why Live Nation (LYV) Stock Is Down Today
What Happened:Shares of live events and entertainment company Live Nation (NYSE:LYV) fell 9.6% in the pre-market session after the Wall Street Journal reported that the Justice Department is preparing to file an antitrust lawsuit against the company. According to the reports, there are allegations that Live Nation "used its dominance in a matter that undermined competition for ticketing live events."
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Live Nation? Find out by reading the original article on StockStory.
What is the market telling us:Live Nation's shares are somewhat volatile and over the last year have had 3 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Live Nation is up 1.6% since the beginning of the year, but at $93.35 per share it is still trading 12.6% below its 52-week high of $106.81 from March 2024. Investors who bought $1,000 worth of Live Nation's shares 5 years ago would now be looking at an investment worth $1,437.
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Written By: Stock Story
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