Sphere Entertainment Soars on Grand Opening. Is This Tech Real Estate Stock a Buy?
The Sphere in Las Vegas just had its grand opening (via a U2 concert, kicking off a two-month residency in South Nevada), and the internet is abuzz with footage from the tech-powered entertainment venue. By all accounts, the "multi-sensory" experience doesn't disappoint. Ticket prices for major events are commensurate with the immersive entertainment, starting in the hundreds of dollars each.
For investors, perhaps the coolest thing about The Sphere is it's a real estate asset that you can invest in -- Sphere Entertainment (NYSE: SPHR) -- but with a catch. Is this a tech stock worth buying?
Aptly named, The Sphere is a modern take on the ancient amphitheater. But rather than seats encircling just a stage with performers, the amphitheater is within a massive spherical structure encased in giant LED screens -- both inside and out. That's a big reason why the price tag to build the massive structure was $2.3 billion.
Source Fool.com
