A wild thing happened on Monday, March 1st. The share price of Live Nation Entertainment hit an all-time high — even though the last time the concert company had hosted a full-scale live show was 12 months prior.
That stock-price peak sent the market cap of the Los Angeles-headquartered Live Nation surging above $20 billion for the first time. And this happened even as the company announced that, thanks to the prolonged Covid-19 lockdown, its fourth-quarter revenues for 2020 were just a tenth of the size they were in the same quarter of 2019 (a puny $237.3 million compared to $2.89 billion,...
That stock-price peak sent the market cap of the Los Angeles-headquartered Live Nation surging above $20 billion for the first time. And this happened even as the company announced that, thanks to the prolonged Covid-19 lockdown, its fourth-quarter revenues for 2020 were just a tenth of the size they were in the same quarter of 2019 (a puny $237.3 million compared to $2.89 billion,...
- 4/12/2021
- by Tim Ingham
- Rollingstone.com
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