Live Nation Entertainment Inc LYV shares are trading lower by 6.91% to $66.89 Friday afternoon following a New York Times report titled “Justice Department Said to Investigate Ticketmaster’s Parent Company.”
So What’s Happening?
Our Benzinga team reported Ticketmaster announced Thursday that an “insufficient” amount of tickets left for Taylor Swift’s Eras Tour is leading to the cancellation of Friday’s planned open-to-the-public sale.
The announcement by Ticketmaster Thursday came via Twitter, when the ticket sales giant stated: “Due to extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand, tomorrow’s public on-sale for Taylor Swift | The Eras Tour has been cancelled.”
Tickets went on sale through various pre-sales this week and due to extraordinary demand, there are no tickets left for the public. LYV owns and operates Ticketmaster, the site facilitating the sales for Swift’s tour…Read More
According to data from Benzinga Pro, LYV has a 52-week high of $126.79 and a 52-week low of $67.53.