Get the latest gossip
Warner Music Group Posts Biggest Stock Gain in Week Led by Streaming Companies
Warner Music Group is the top music stock in a week lead by streaming companies including Spotify, LiveOne and Tencent Music Entertainment.
While overall music stocks managed only a small increase, the Nasdaq composite rose 3.2% to 17,688.88 and enjoyed its fifth-straight closing record on Friday (June 14). “Our goal is to forge meaningful alliances with companies that share our passion for innovation, bespoke programming, and delivering exceptional customer value,” Brad Konkol, head of Slacker Radio, said in a statement. Although its earnings-per-share estimates were unchanged, CFRA opted for a more conservative valuation multiple to reflect “business risk from the DOJ and live entertainment moving to the slower part of the year starting in October,” analyst Kenneth Leon wrote.
Or read this on Billboard
