Live Nation Faces Downgrade as Stocks Continue to Tank – EDMTunes

Popular ticketing platform Live Nation has been facing the brunt of the coronavirus pandemic. Recently, they for the entire month of March.

According to Digital Music News, LYV shares have fallen about another 15%, landing at $36.31. The stock market has been deeply affected by COVID-19; consequently, Live Nation stocks have been plummeting. S&P Global Ratings is considering a massive downgrade of LYV stocks. Their shares are currently rated as a BB-minus rating, although it is expected to go down even more.

Last Friday, Live Nation CEO Michael Rapino invested about 1 million dollars into his own stock. Other bottom-grabs, such as Mark Cuban, also made investments; this move may have encouraged other buys, especially since shares had slightly elevated on Friday. However, as a result, Rapino lost about $150,000 and is expected to lose even more in the future.

Stay tuned for more updates on Live Nation.