EDR - UFC parent Endeavor Group's stock pops 10% to a post-IPO record
Hollywood powerhouse Endeavor Group (EDR) soared more than 10% Friday to close at its highest level since going public last week.EDR rose to as high as $32.40 before settling back to finish the session at a record $31.68. That represented a 10.1% gain on that day, as well as a 25.7% boost from where the stock closed after rallying on its first trading day a week ago Thursday.EDR also ended the session 32% above its $24-a-share initial public offering price. The latest gains took Endeavor’s market capitalization to about $21.6B.Endeavor owns a collection of top sports and entertainment properties, including the UFC mixed-martial arts league, the Miss Universe competition and the IMG talent agency (successor to the famous William Morris talent agency).The company is run by Hollywood mogul Ari Emanuel, brother of former Chicago Mayor Rahm Emanuel. Additionally, Tesla CEO Elon Musk serves on the company’s board, while the New
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UFC parent Endeavor Group’s stock pops 10% to a post-IPO record