Wall Street Rollercoaster Continues: WMG Booms 13.3 Percent

  • Save

Got volatility?

Those trading in Warner Music Group (WMG) are now experiencing a few ups-and-downs, and Thursday presented a 13.3 percent pop.  The half-point advance pushed shares back above $4 to $4.42, potentially a crawl towards the psychologically important $5 threshold.

The jump was buoyed by a broader market gain, specifically a 64 point improvement on the Dow.  That follows a string of declines, and could signal a fresh spate of confidence in the economy.  Against that backdrop, a number of music-related shares gained, including Apple (APPL), Live Nation (LYV), Rovi Corporation (ROVI), Sirius XM Radio (SIRI), and Ticketmaster (TKTM).

The Wall Street seesaw coincides with some executive shuffling.  Warner Nashville has recently been reorganized, and top executive Kevin Liles is now leaving the building.