LYV - Live Nation - Sights Set Towards 2021
Not a single concert in sight, but Live Nation is about to close a deal within a week that should secure them around $1.2 Billion to stay afloat for the time being. The 6.5% senior secured notes will be used for general corporate purposes and will be due in 2027. (Their previous loans are first due in 2023). Since March 12, concert revenues dropped 24.6% in the first quarter and I'm assuming the 2nd quarter results will be even worse, just not sure if that's already priced in to their stock price even though revenue and earnings per share (EPS) forecasts were both revised downwards. If they're able to secure this funding, this should buy them enough time to when things go back to "normal", which we're not exactly sure what the new norm will be.
TA:
We're seeing a similar pattern in LYV that we have seen in a lot of other stocks, especially those in the entertainment/hospitality sector. We had a bearish pennant, and as expected, price has broken out downwards out of this pennant and looking for support. First support level we're looking for is around $34.88, followed by $22.18 levels. I like LYV for the long run so will be picking up some when we see some solid support occurring. We're going to keep out outlook Neutral for now as we wait to see if the funding is secured and we're still looking for some support.
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
TA:
We're seeing a similar pattern in LYV that we have seen in a lot of other stocks, especially those in the entertainment/hospitality sector. We had a bearish pennant, and as expected, price has broken out downwards out of this pennant and looking for support. First support level we're looking for is around $34.88, followed by $22.18 levels. I like LYV for the long run so will be picking up some when we see some solid support occurring. We're going to keep out outlook Neutral for now as we wait to see if the funding is secured and we're still looking for some support.
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.