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JYP Entertainment Shares Spike on Stray Kids Announcement, Live Nation Stock Hits Record High
JYP Entertainment shares spiked on the Stray Kids tour announcement this week, while music stocks gained overall, including at Spotify & Live Nation.
Another high-flying music stock was Live Nation, which jumped 8.7% to an all-time high of $140.26 on Friday after more analysts increased their price targets. The company’s third-quarter earnings on Nov. 11 can take credit for some of the recent gains, though Donald Trump ’s victory in the U.S. presidential election played a part, too, as investors believe Live Nation’s ongoing lawsuit brought by the Department of Justice will see a more favorable resolution with the incoming administration. Lastly, label giant Warner Music Group (WMG) dropped 3.3% to $31.85 following the release of its latest quarterly earnings on Thursday (Nov. 21).
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