Why Live Nation Is Josh Brown s No. 1 Reopening Play
Live Nation Entertainment Inc (NYSE:LYV) is the reopening play that Ritholtz Wealth Management CEO Josh Brown feels most strongly about, he said Tuesday on CNBC s Fast Money: Halftime Report.
Live Nation opened up ticketing for Astroworld in Houston and sold 100,000 tickets in an hour, Brown said.
Every show this summer is going to be sold out, he told CNBC.
All of the Live Nation venues are reopening, and the stock has a market cap of about $18 billion, Brown said, adding that the current valuation is a joke.
Live Nation s stock is going to continue to trend higher as people enjoy festivals and concerts this summer, he said.
Plug Power Daily Chart Analysis:
Shares saw a possible bounce near support and have since then moved higher.
The stock is trading below both the 50-day moving average (green), and the 200-day moving average (blue), indicating sentiment in the stock looks bearish.
The price may find resistance near each of these moving averages in the future.
Key Plug Power Levels To Watch
Plug Power is trading in a channel and the gap up Friday pushed the stock closer to the potential resistance line.
The $19 price level acted as resistance previously, and on Tuesday, the stock may have bounced near this level.
Tesla Inc (NASDAQ:TSLA),
Teladoc Health Inc (NYSE:TDOC), and
Roku Inc (NASDAQ:ROKU).
ARKK holds a total of 5.15 million shares, worth about $1.32 billion, and representing 5.29% of the ETF s weight.
The New York-based hedge fund also bought 76,288 shares of the cryptocurrency exchange
Coinbase Global Inc (NASDAQ:COIN) worth about $23.23 million on the stock’s Monday’s close.
The investment firm s ARK Next Generation Internet ETF (NYSE:ARKW) made the trade. Shares of the company closed 4.44% higher at $304.54 on Monday, giving the cryptocurrency exchange a market cap of $60.66 billion.
Coinbase’s market cap has however climbed down from $85.8 billion on its blockbuster listing earlier this month.
Share:
GameStop Corp (NYSE: GME) is a story stock, and the story does not go away, co-host Dennis Dick said Tuesday on Benzinga s YouTube show PreMarket Prep.
GameStop s Offering News: GameStop announced the completion of an at-the-money equity offering Monday. The company raised $551 million by selling 3.5 million additional shares.
GameStop said the money will be used to continue accelerating GameStop’s transformation as well as for general corporate purposes and further strengthening the company’s balance sheet.
The stock doesn t care about the fundamentals, Dick said, adding that it could go anywhere.
The PreMarket Prep co-host said he wouldn t be surprised if the stock went higher and wouldn t be surprised if it went lower, he said.