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HYBE Shares Gain 18% Following UMG Partnership Announcement as Music Stocks Rise Overall

HYBE shares were up this week after its Universal Music Group partnership was announced, though Live Nation and Spotify both fell slightly.

Hipgnosis shares traded as low as 52.9 pence ($0.67) on March 4 but have rebounded since the company overhauled its board and hired Shot Tower Capital to put together the due diligence report. CTS Eventim, the German live events promoter and ticketing company, rose 11.1% to 82.45 euros ($89.05) after releasing earnings for the fourth quarter and full-year 2023 on Tuesday (March 26). Demand is “rising continuously,” CEO Klaus-Peter Schulenberg wrote in the annual report, and the company expects the recent decline in inflation to provide “new, consumption-driven impetus for growth in the future.”

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