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Rocky Week Ahead for Music Stocks
Wall Street analysts are predicting a very rocky week in the markets with an unusual number of economic reports scheduled for release. With virtually all indexes offering only bad news, stock traders are readying for a wild ride.
That's bad news for the battered music sector and its publicly traded companies, many of whom are trading at or near all time lows. WMG stock has fallen 23% in the last month to near a low of $2.13. The Orchard is down 9.5% for the month closing at $1.72 on Friday. Live Nation is actually up 35% for the month to $5.51, but the newly merged Sirius XM is hovering at just 11 cents. You can track major entertainment stocks with the widget in the upper right column of Hypebot.
