LYV - Why Live Nation Stock Gained 14% Last Month
2023-07-07 09:58:10 ET
Shares of Live Nation Entertainment (NYSE: LYV) rose 14% in June, according to data from S&P Global Market Intelligence . The ticket seller and events promoter outperformed the broader stock market, as the S&P 500 gained 6.5% over the same period.
The Ticketmaster parent's June gains hinged around one event. On June 15, at a visit to the White House, Live Nation said it would start selling tickets under an "all-in pricing" policy, where the promoted price includes all fees and taxes up front. Sector rivals such as SeatGeek and TickPick joined the all-in pricing drive. However, the ticket-selling industry did not quite go all-in on the all-in pricing idea. StubHub refused to join the Greek chorus, and has criticized the industry's price-setting policy moves in the past.
Ticket prices for concerts , festivals, sporting events , and more are changing before our eyes. Ticket buyers and Live Nation investors alike widely welcomed the consumer-friendly all-in pricing idea. Share prices rose 4% that day, setting the stock chart's tone for the rest of June.
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Why Live Nation Stock Gained 14% Last Month