LYV - Live Nation Entertainment: Congratulations You've Been Diluted
2024-03-14 02:16:31 ET
Summary
- Live Nation had an exceptional 2023, riding a strong slate of live tours and pent-up demand for experiences.
- The company's complex financials and inter-segment subsidizing strategy make it hard for investors to understand the true price they're paying for the stock.
- Fundamentally, Live Nation remains a low-margin business, with unpredictable profits and continuous dilution.
- As growth should decelerate materially, I reiterate a Hold rating for the stock.
Live Nation Entertainment ( LYV ) is arguably the world's largest event facilitator. Between music, sports, and other live events, Live Nation has a huge foothold in the world of experiences.
I'm a huge live event customer, and the company's business is very appealing to me. Unfortunately, this strength does not translate to strong financials, as Live Nation struggles to generate meaningful profits and continuously dilutes its shareholders....
Live Nation Entertainment: Congratulations, You've Been Diluted