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Live Nation Shares Surge, Spotify Stock Reaches Another New High
Live Nation's stock rose this week while Spotify shares reached another new high. Elsewhere, Universal Music Group shares fell 4.2%.
As demand for concerts appears strong heading into the busy summer months, Live Nation led nearly all music stocks this week by jumping 7.7% to $148.87. Markets sagged in the latter half of the week as investors expressed concerns about tensions in the Middle East and thepotential impacts on global oil supplies and gas prices. With streaming stocks posting the biggest gains of the year, Spotify shares reached a record high of $728.80 on Wednesday (June 18) but stumbled over the next two days and finished the week down 0.5% to $707.42.
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