It's been a rough year and change for the live music industry, but you can't necessarily say that about Live Nation (NYSE: LYV). Fundamentally speaking, it's in bad shape. The country's top concert promoter saw its revenue plummet 84% in 2020. However, take a look at its stock chart and Live Nation is singing a different tune.
Shares of Live Nation have nearly quadrupled since bottoming out like most growth stocks in March of last year. In a more understated but still ridiculously impressive performance, the stock is actually trading 13% higher since the beginning of last year. Live Nation is trading higher than it was at the end of 2019, when the economy was booming and we were packing ourselves like sardines into concert halls and music festivals because no one saw a pandemic coming.
Live Nation stock has bounced back in a major way. Is it still a buy? Let's plug into our amps, turn up the volume, and jam on the merits of Live Nation as an investment.
Source Fool.com