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Live Music Stocks Fall as Markets Roiled by Tariffs, Inflation and Government Layoffs
Live music stocks, including Live Nation and Sphere Entertainment, fell this week as markets were upset by U.S. tariffs, inflation and layoffs.
Nevertheless, Leon maintained its $135 price target and upgraded Live Nation shares to “hold” from “sell.” The company, he added, “is a market leader in tickets and continues to fund large capital expenditures to expand its own venues.” Many other companies that depend on consumer discretionary spending also fell this week, including Expedia Group (down 6.9%), Hyatt Hotels (down 3.7%) and cruise operator Carnival Corporation (down 13.7%). The company revealed on Friday that it received a warning from the Nasdaq stock exchange that it faces a de-listing for failing to meet the minimum shareholders’ equity threshold of $10 million.
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