In recent weeks, Live Nation’s stock (LYV) has dropped dramatically due to the coronavirus (COVID-19) pandemic amid widespread cancellations, however, billionaires showed an interest in the company during this time.
Ahead of the latest trading session closing, Live Nation Entertainment had 1.92 million shares being bought and sold, Dwinnex reports. Then, over the last three months, that number shifted, hovering around 3.58 million, followed by a sudden drop in the biggest single-day decline in history when S&P 500 fell 32 percent from its previous record-high set just a few weeks prior.
Currently, Dwinnex reports that Live Nation’s Operating Margin is sitting at 2.80% with a Gross Margin at $26.70%. The company’s Net Margin is now $0.00, which means that Live Nation is not generating as much profit after accounting its expenses, compared to its neighboring live entertainment companies. It has 192.24 million shares outstanding, which totals a market cap of 6.53 billion. Currently, its stock price moved down by -53.53% from its 53-week high and moved 64.03% from its 52-week low.
The stock’s Relative Strength Index (RSI) is sitting at 32.69 – a score that suggests the stock is not overbought or oversold, at 25.63% more volatile than the wider market. Analysts have commented on the stock, noting that the stock has both negative and positive outlooks, nonetheless, there is potential for Return on Investment.
Earlier this month, Live Nation officially postponed all tours throughout the end of the month. Other artists have gone beyond that date and cancelled or postponed tours throughout the summer, while a handful of local and large-scale festivals have been rescheduled to the fall. At this point, it’s unknown when the virus will pass, but the raw numbers of cases per state are still a small fraction of the population.