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Sphere Entertainment Shares Soar on Positive Quarterly Results, Besting All Music Stocks
Sphere Entertainment stock gained on a positive quarterly earnings report this week, though Billboard Global Music Index stocks were down overall.
During Wednesday’s earnings call, CEO James Dolan said the company is learning how to get the most out of the $2.3 billion venue with not just concerts but corporate and sporting events and Sphere’s current cash cow, motion pictures. LiveOne’s shares rose 16.3% this week after the Los Angeles-based music streamer announced its fiscal first-quarter earnings on Tuesday (Aug. 13). The 20-company Billboard Global Music Index (BGMI) fell 0.7% to 1,780.54 despite most of the stocks gaining and the market enjoying one of its best weeks of 2024 thanks to a host of positive news.
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