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Traders Blast Live Nation Stock Amid Lawsuit Report
LYVLive Nation Entertainment(LYV) Schaeffers Research·2024-04-16 14:53

Live Nation Entertainment Inc (NYSE:LYV) stock is down 6.7% to trade at 92.80atlastcheck,aftertheWallStreetJournalyesterdayreportedtheDepartmentofJustice(DoJ)isgettingreadytofileanantitrustlawsuitagainsttheTicketmasterparentoverthenextfewweeks,allegingituseditsmarketprominencetostiflecompetitionforliveticketedevents.LYVistodaygappingbelowthe60−daymovingaverageforthefirsttimesinceFebruary,asitpullsbackfromaMarch28,52−weekhighof92.80 at last check, after the Wall Street Journal yesterday reported the Department of Justice (DoJ) is getting ready to file an antitrust lawsuit against the Ticketmaster parent over the next few weeks, alleging it used its market prominence to stifle competition for live ticketed events.LYV is today gapping below the 60-day moving average for the first time since February, as it pulls back from a March 28, 52-week high of 107.24. T ...