Why Live Nation Stock Gained 14% Last Month
Shares of Live Nation Entertainment (NYSE: LYV) rose 14% in June, according to data from S&P Global Market Intelligence. The ticket seller and events promoter outperformed the broader stock market, as the S&P 500 gained 6.5% over the same period.
The Ticketmaster parent's June gains hinged around one event. On June 15, at a visit to the White House, Live Nation said it would start selling tickets under an "all-in pricing" policy, where the promoted price includes all fees and taxes up front. Sector rivals such as SeatGeek and TickPick joined the all-in pricing drive. However, the ticket-selling industry did not quite go all-in on the all-in pricing idea. StubHub refused to join the Greek chorus, and has criticized the industry's price-setting policy moves in the past.
Ticket prices for concerts, festivals, sporting events, and more are changing before our eyes. Ticket buyers and Live Nation investors alike widely welcomed the consumer-friendly all-in pricing idea. Share prices rose 4% that day, setting the stock chart's tone for the rest of June.
Source Fool.com
