Universal Music Group’s stock price cracked the €25.50 mark ($26.91) for the first time in nearly two years Wednesday and has continued to rise today (10/12), pushing its valuation to almost $50b. Universal has not seen the €25.50 mark since the early days of it's going public two years ago.
UMG stock hit a new 52-week high of €25.64 ($27.05) today, closing at €25.56 on the EuroNext market. On Wednesday, it closed at €25.35.
The stock has been on a steady four-month climb since closing at €18.50 on 5/31. It's up nearly 50% in the last 12 months.
At the current price, UMG’s valuation is €46.14b, which will certainly give Sir Lucian Grainge something to crow about when UMG announces its Q3 results on 10/26.
CALL MY AGENT:
JOHN MARX His first concert was Buffalo Springfield at the Indio Date Fair. (9/17a)
HITS' FIRST LIVE ISSUE TAKES THE STAGE THIS FALL
We're manning the merch table. (9/13a)
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THE GRAMMY SHORT LIST
Who's already a lock?
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
ALL THE WAY LIVE
The players, the tours, the enormous beers.
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