(Hypebot) — Live music stocks led by Live Nation, Sphere Entertainment. and MSG Entertainment tumbled last week as markets were spooked by a looming tariff war and sticky inflation.
Live Music Stocks Tumble
Live Nation stock fell 11.0% last week to $127.51 erasing year to date gains. That downward trend continued Monday falling another 3.8% in morning trading. On February 20th, Live Nation reported a strong 2024 with more growth ahead.
Sphere Entertainment lost 18.8% trading at $35.45 by week’s end. On Monday morning it fell another 6.95%.
MSG Entertainment was down 7.7% to $31.86 last week. It faired slightly better Monday falling just 1.28% more.
By contrast Universal Music Group and Warner Music Group shares were both up despite the overall market’s weak week.
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, a Berklee College Of Music professor and founder of the Skyline Artists Agency
