Share prices for the world’s biggest concert promoter hit $127.75 on Friday.
Live Nation stock jumped nearly 19% on Friday following the company’s third quarter earnings report the day before. Share prices soared from $107.52 to an all-time high $127.75 before closing at $123.80, giving the company a $27.8 billion market value.’s “Truckin’” perfectly describes concert giant Live Nation over the last 20 months: “Lately it occurs to me, what a long, strange trip it’s been.
Former Grateful Dead members touring as Dead & Company, were one of Live Nation’s high points in 2020 after selling over 184,000 tickets to eight shows from June to August, according toThe Eagles just had a wildly successful arena tour,” he said, while Dead & Company “were out doing full stadiums.” Whatever uncertainty Live Nation had about the touring market’s recovery came into focus in the third quarter. “We saw huge demand across the board, of all ages, all demos [and] all markets,” said Rapino.
In fact, Live Nation may have too much of a good thing. After dozens of major tours were either canceled or suspended during the pandemic, artists are clamoring to return to the road. Live Nation promoted 5,563 concerts in the third quarter, more than triple its second quarter show count and 15 times more than the prior-year period.
Well, it will plummet very hard Monday morning. 😂
That's what happens when you have a monopoly 😡