That's bad news for the battered music sector and its publicly traded companies, many of whom are trading at or near all time lows. WMG stock has fallen 23% in the last month to near a low of $2.13. The Orchard is down 9.5% for the month closing at $1.72 on Friday. Live Nation is actually up 35% for the month to $5.51, but the newly merged Sirius XM is hovering at just 11 cents. You can track major entertainment stocks with the widget in the upper right column of Hypebot.
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Rocky Week Ahead for Music Stocks
Wall Street analysts are predicting a very rocky week in the markets with an unusual number of economic reports scheduled for release. With virtually all indexes offering only bad news, stock traders are readying for a wild ride.