SiriusXM’s Market Cap Grew $2.7B This Week as Music Stocks Saw Healthy Gains

SiriusXM added $2.7 billion of market capitalization this week as its share price gained 18.3% to $4.53 — the stock’s highest closing price since Feb. 17 and 36.4% above its low point in 2023 of $3.32 reached on April 27.it was scrapping its standalone podcast app, Stitcher, to concentrate on producing podcast content, selling advertisements and leveraging the content to attract SiriusXM subscribers.

Two other radio companies, Cumulus Media and iHeartMedia, were among the leading music stocks this week. Shares of Cumulus Media improved 20.6% to $4.10 just one week afterand leading the Billboard Global Music Index, while iHeartMedia’s stock gained 8% to $3.64. But despite those improvements, both stocks have fallen precipitously in 2023 amidst a soft advertising market. Through June 30, Cumulus Media and iHeartMedia are down 34% and 40.6%, respectively, year to date.

Another standout performer this week was Universal Music Group, the world’s largest record label and music publisher, with shares gaining 5.5% to 20.35 euros . The company will release second-quarter earnings on July 26. Halfway through 2023, the Billboard Global Music Index is up 13%. The index’s growth has come from large gains by some of the most valuable companies on the index: Spotify , HYBE and Live Nation . The largest gain on a percentage basis, meanwhile, came from the smaller LiveOne .

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Apple Is Now Worth More Than $3 Trillion, First Company to Hit Market Cap MilestoneApple, already the most valuable company on the planet, on Friday saw its market capitalization climb past $3 trillion as the tech colossus reached a historic milestone. The iPhone maker’s sh…
مصدر: Variety - 🏆 108. / 63 اقرأ أكثر »

Apple's Market Cap Touches $3 TrillionApple's market value reached $3 trillion for the first time since early 2022. The tech giant's stock traded at $192.59, up about 1.6%, shortly after the opening bell. It crossed the $3 trillion level at $190.734. No U.S. company has finished a trading session with a market cap of $3 trillion or hi
مصدر: WSJ - 🏆 98. / 63 اقرأ أكثر »

Apple becomes first company to have a market cap topping $3 trillionThe news shows investors remain bullish on the stock and Apple’s portfolio of products and services, despite the company’s warning in May that its current quarter revenue is expected to fall about 3%.
مصدر: NBCNews - 🏆 10. / 86 اقرأ أكثر »

Apple's market cap closes above $3 trillion for the first time everApple's market cap topped $3 trillion on Friday, passing the $190.73 share price required to hit the milestone.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »

Apple market cap hits $3TApple shares are hovering above the $192 mark on Friday, propelling the tech giant’s valuation to more than $3 trillion. The tech giant briefly traded above this level in 2022.
مصدر: FoxBusiness - 🏆 458. / 53 اقرأ أكثر »

Apple hits $3 trillion market cap as 2023 tech rally continuesThe milestone comes after a rip-roaring first half of 2023 for tech stocks, which has seen the Nasdaq rise 30% while Apple stock has gained more than 45%.
مصدر: YahooNews - 🏆 380. / 59 اقرأ أكثر »