Live Nation Entertainment LYV shares are trading lower on Friday, after weakness potentially related to event cancellations as a result of the coronavirus pandemic.
Also, Morgan Stanley analysts cut their price target from $80 to $40.
See Also: The Concert Business Is About To Go Silent From Coronavirus
Live Nation is an American events promoter and venue operator. The company was formed in 1996 by Robert Sillerman as SFX Entertainment. Its business was built around consolidating concert promoters into a national company.
Live Nation shares were trading down 9.4% at $30.75 on Friday. The stock has a 52-week high of $76.60 and a 52-week low of $21.70.
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