Live Nation Stock Surges After Trump Victory, Analysts’ Revisions

Shares of Live Nation Entertainment hit a 52-week high in Wednesday morning trading, as stocks market-wide surged following Donald Trump’s victory in the 2024 presidential election.

LYV traded as high as $127.44, up more than $10 from Tuesday’s close and nearly hitting its highest price ever set in Nov. 2021. The Dow Jones Industrial Average pushed up nearly 1,400 points with the broader S&P 500 up more than 130 points by midday.

The surge came after numerous analysts revised price expectations for the stock in the last two weeks, moving it to a “buy” rating, coupled with Trump’s election which observers believe may usher in an era of fewer regulations on business and a lighter touch on antitrust actions, though during his first term, Trump’s administration was more active on antitrust than expected.

Live Nation is facing a high-profile antitrust suit filed by the U.S. Department of Justice and 39 state attorneys-general along with the AG of the District of Columbia. The suit seeks to reverse the company’s merger with Ticketmaster.

Live Nation also moved its earnings report date from Nov. 12 to Nov. 11. The company will report its Q3 financials after trading closes Monday. The New York Stock Exchange will trade Monday despite it being Veterans Day.

The consensus earnings per share estimate for LYV’s Q3 report stands at $1.58, down 11.2% from the same period in 2023, with revenues predicted at $7.91 billion, down 3% from a year ago.