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Music Stocks Dragged Down Amid Dreary Week for Global Markets
Music stocks trended down in a bad week for global markets. Only three company stocks - LiveOne, Sphere Entertainment and Reservoir - saw gains.
LiveOne was the week’s biggest gainer as the music streaming company’s shares rose 19.6% to $1.22 after it announced on Wednesday (Dec. 18) that its partnership with Tesla surpassed 350,000 subscribers. Among other music companies, Live Nation had a modest decline of just 2%, dropping to $133.17 despite more analysts increasing their price targets on the stock this week. Four K-pop stocks declined an average of 5.1% this week, reflecting the ongoing political uncertainty in the South Korean market.
Or read this on Billboard