21 C
Tuesday, April 16, 2024

Las Vegas Sphere Developer Leads Music Stocks This Week Amid Hype – Billboard


Seeing is believing for some investors in Sphere Entertainment Co., developer of The Sphere, Las Vegas’ new state-of-the-art venue.

Shares of Sphere Entertainment soared this week after the world saw the first video of the dazzling displays created by the 580,000-square-foot programmable LED “puck” on the Exosphere, the exterior of the 366-foot-tall spherical arena. 22.7%.this fascinating light show Received extensive media coverage – CNN, NPR, usa today, protector and daily mailetc., and share widely on social media. The rush has helped Sphere Entertainment’s market value grow to $919 million, an increase of more than $170 million.

U2 Launching The Sphere on September 29th with a 25-show residency running through December 16th. As of Friday, the Sept. 29 show is sold out, and the only available tickets for the next two shows are priced at $501 each. Other programming for Sphere is postcards from earthan immersive experience created by filmmaker Darren Aronofsky to showcase the venue’s technological capabilities.

Sphere Entertainment was one of eight stocks that rose this week on the Billboard World Music Index. The index rose 1%, outpacing the S&P 500 (down 1.2%), the Nasdaq Composite (-0.9%), the UK’s FTSE 100 (down 1.5%) and South Korea’s KOSPI Composite (down 3.6%).Stocks fell on Friday (July 7) as investors worried about the Labor Department’s June jobs report – which showed Wages are stronger than expected – could increase the chances that the Fed will resume raising interest rates to cool the economy and fend off inflation.

Two radio stocks were also big winners this week. Shares of iHeartMedia and Cumulus Media rose 9.3 percent and 8.5 percent, respectively. While both stocks are down sharply in 2023 — iHeartMedia is down 35.1% and Cumulus is down 28.3% — both stocks have had a string of successful weeks. Shares of iHeartMedia have risen 66.5% over the past six weeks. Shares of Cumulus Media have risen 37.8% during that time.

Warner Music Group was the only stock on the index to post a single-digit gain for the week, rising 7.4 percent to $28.01. This reduced WMG’s year-to-date loss to 20%.


Source link

Related Articles

Saisha Bhasin Khan Excited About Starring in Upcoming Netflix Feature Film “Perfect Dad”

Saisha Bhasin Khan Gears Up for Leading Role in Netflix's Blockbuster 'Perfect Dad' In an exclusive interview, Saisha Bhasin Khan shares her joy and enthusiasm...

Tiger Shroff leaves the audience amazed with his performance in ‘Bade Miyan Chote Miyan’

Tiger Shroff Stuns Audiences with His Role in 'Bade Miyan Chote Miyan ‘Bade Miyan Chote Miyan’ has been released, and people cannot stop raving about...

Map of Limitless Positivity ! Discover the Shining Spots Across the US Where Total Solar Eclipse Thrills Await

Map of Nope: Unveiling the Regions of the United States Exempt from Total Solar Eclipse Phenomena In the vast tapestry of celestial events, few occurrences...

Anant Ambani and Radhika Merchant’s Spectacular Jamnagar Extravaganza Unveils 5 Unforgettable Moments

Anant Ambani and Radhika Merchant's Glamorous Jamnagar Affair The extravagant pre-wedding bash of Anant Ambani and Radhika Merchant unfolded over three days, captivating the attention...

Musk X to Boost Pinned Post Visibility with Algorithm Upgrade

Musk's X to Boost Pinned Post Visibility Elon Musk's X, formerly known as Twitter, is on the brink of a groundbreaking transformation with a forthcoming...

Latest Articles