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‘APT’ Drives YG Entertainment Stock Gain for Second Week; UMG Shares Slip Despite Post-Earnings Rally
ROSÉ and Bruno Mars' 'APT' drove YG Entertainment's stock gain to 4.3% this week as the track continued its hot streak.
Universal Music Group (UMG) shares fell 0.7% over the week but gained 1.6% to 23.45 euros ($25.52) on Friday (Nov. 1) following the company’s third-quarter earnings the prior day. New CEO Alexis Lanternier sounded upbeat about partnerships with MeLi+ and Mercado Libre, which has converted free trials at a rate “higher than our expectations,” in his words. Investors may have taken note of MZ Group’s Chris Donovan ’s statement that PodcastOne “owns intellectual property that can be sold for a significant return on investment.”
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