LYV - Live Nation Entertainment a new best idea short at Hedgeye

• Live Nation Entertainment ( NYSE: LYV ) was added as a new best idea short at Hedgeye as demand for events is likely to deteriorate after a strong summer/fall season. Hedgeye sees potential for 30% downside over next 6-12 months.
• "As we move past the seasonally strong summer/fall event season, we expect marginal demand to deteriorate," Hedgeye analyst Andrew Freedman wrote in a note on Tuesday. "And growth will start slowing to below long-term trend levels heading into 2023 and 2024, which will put pressure on margins and terminal value assumptions."
• "We believe we are about to enter a negative revision cycle over the next 6-9 months, at a time when consensus estimates reflect a level of consumer demand that isn't sustainable," Freedman added.
• Hedgeye is hosting a presentation on LYV short idea next Wednesday.
• Live Nation ( LYV ) short interest is 9.1%.
• Last month, Spotify testing direct concert ticket sales as further step into events .

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