Live Nation Entertainment is seeing momentum building in its stock strength with its value quickly increasing.
Over the last year, Live Nation’s stock has gone up 40.8 per cent, with 30.1 per cent of that jump occurring in the last six months.
The current stock price is $37.36 (£28.69/€31.68), which has increased 8.1 per cent over the last three months.
These numbers show an increase in the company’s stock momentum, which can be seen when the short-term (10-day) moving averages edge above the longer-term ones (50-day).
According to Capital Market Laboratories, Live Nation has a five bull (top-rated) technical rating because it is trading above its 10-, 50- and 200-day simple moving averages and the stock is up 0.11 per cent on the day.
Its current ten-day moving average is $37.14, while its 50 and 200-day moving average is $35.55 and $30.77, respectively. All of these are below its current stock price, showing its technical strength on the market and current growth.
In other news, Live Nation has hired former UK Music chief executive Jo Dipple as its senior vice-president, a role spanning Live Nation and Ticketmaster globally.
Additionally, the company has made the decision not to renew HARD events cofounder Gary Richards’ contract after it recent expiry, and will take on full ownership of HARD’s flagship events, including Holy Ship! and HARD Summer.
Live Nation’s merchandising arm also filed a lawsuit in the North American city of Boston against unnamed defendants it believed would infringe on Coldplay’s trademark at the Friday show.
The pre-lawsuit was an attempt by the live music promoter, which has exclusive rights to the band’s trademarks, to deter those selling counterfeit merchandise such as T-shirts and jerseys from doing so at the August 4 concert.
Image: Nick Youngson
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