Covered LYV At $9.91
Out of nowhere, at 1:20pm EST Live Nation Entertainment (LYV) took an unbelievable plunge. The only thing I can find that gives reason to this is that Michael Rapino, on a live interview on CNBC, said he was willing to take smaller margins on ticket sales in order to help us "little-people" out so that we can see that freak-show Lady Gaga perform.. Gotta love that guy, who basically, as CEO, self destructs his own stock with a few uncanny words. Well, Mikey - ya' helped me out, and I do appreciate it.
I am out of LYV at $9.91 for a 12.1% return. Can't complain at all, to be quite honest - it has made for quite a profitable day...so far.
Chart Analysis on LYV