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Live Nation Among Stocks to Get Trump Election Bump
Live Nation, which is facing a lawsuit brought by the Department of Justice, saw its share price jump 7.1% the day after Donald Trump’s victory.
Live Nation, which is facing a lawsuit brought by the Department of Justice (DOJ) under President Joe Biden, saw its share price jump on Wednesday (Nov. 6) following Donald Trump ’s victory in the U.S. presidential election a day earlier. In a lawsuit filed in May, the DOJ alleged Live Nation abused its market power to hurt competition through exclusive ticketing contracts and threats and retaliations against venues that choose competing ticketing companies, among other actions the DOJ claims are illegal and violate the consent decree that placed competition-enhancing restrictions on the 2010 merger of Live Nation and Ticketmaster. Trump has signaled a laissez-faire approach to cryptocurrency and said he would quickly fire Securities and Exchange Commission chair Gary Gensler, a critic who has punished numerous crypto companies and favors tighter regulations.
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