Live Nation’s Stock Soars Following Trump Victory

Live Nation (NYSE: LYV) shares hit a 52-week high Wednesday morning amid a stock market-wide surge after Donald Trump declared victory in the 2024 U.S. presidential election.

Just hours after Trump made headlines, the Dow Jones Industrial Average jumped by more than 1,300 points, showcasing a 3% rise in the index, with the S&P 500 and Nasdaq jumping more than 2% each. From Tuesday’s close to Wednesday morning, Live Nation was up more than $10, trading as high as $127.44. This number nearly hit the highest price ever set in November 2021.

This rapid increase follows revised price expectations for the stock over the past few weeks, which moved it to a “buy” rating, coinciding with Trump’s win. While regulators believe that Trump’s election could mean fewer regulations on business and lighter decisions on antitrust matters, Live Nation and Ticketmaster’s antitrust lawsuit has sparked outrage from both sides of the political spectrum.

Attorneys General from 39 states plus the District of Columbia signed on as co-plaintiffs with the Department of Justice in the antitrust case, representing an overwhelming majority of the population, from states as blue as California and red as Mississippi. The suit, filed earlier this year, aims to break up Live Nation and Ticketmaster, citing anticompetitive and monopolistic business practices.

| READ: Will the Election Impact Live Nation’s Antitrust Case? | 

Diana Moss of the Progressive Policy Institute noted in a statement to TicketNews that “fan and artist outrage over high fees and no choice in ticketing would be hard for any administration to ignore.”

“DOJ’s case against Live Nation stands a good chance of surviving a transition in administration intact,” Moss said. “This contrasts with the other digital tech monopolization cases on deck at the anti-trust agencies. Live Nation’s demonstrated anticompetitive practices present more familiar territory for the courts in terms of bringing strong theory and facts, so a win is likely and that looks good politically.”

Live Nation is scheduled to report its Q3 financials following trading on Monday.