Live Nation Shares Keep Slipping; 21% Last Week

The live concert sector appears to be entering a grueling readjustment phase, and that has investors nervous.

On Friday, Wall Street gave Live Nation (LYV) another lashing following a very downbeat investor disclosure in Thursday.  At the bell, shares of Live Nation slipped 11.78 percent to $8.99, down 21 percent on the week.

During the investor meeting, Live Nation CEO Michael Rapino blamed serious economic pressures for the declines.  But according to its presentation, the company is also paying exorbitant percentages to attract talent, a situation that is hiking ticket prices and shaving margins in many cases.  On that note, Live Nation also pointed to efforts to lower ticket prices, though the current-half forecast called for continued drops.