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HYBE & K-Pop Stocks Rebound, SiriusXM Shares Fall After Release of 2025 Guidance
HYBE and K-pop stocks rebounded while SiriusXM shares fell on the company's 2025 revenue guidance, Music stocks were down overall this week.
Universal Music Group, the index’s second-largest company, gained 4.6% to 24.46 euros ($25.69), its best closing price since it lost 24% following second-quarter earnings on July 25. Still, investors have renewed faith in Spotify after the company improved its margins and bottom line while maintaining the same rapid growth rate before it laid off nearly a quarter of its workforce in 2023. The company also revealed it is doubling down on in-car listening and refocusing on satellite radio after its year-old streaming app delivered disappointing results.
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