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The company’s shares have surged 40% in price over the past three months and 18.6% over the past month on the back of better-than-expected financial results in its last reported quarter. In addition, with solid progress on the vaccination front, live events are rebounding, and people are more eager to attend in large numbers. This has boosted LYV’s revenue growth lately.
However, the stock fell 5% in price on Monday after the LYV-organized Houston music festival ended in tragedy, with eight people killed and hundreds more injured. Following the incident, multiple lawsuits were filed against the company. We think this might have a detrimental influence on the company’s price performance in the coming weeks.
