top of page

U.S. Lawmakers Launch Astroworld Probe Into Live Nation-Could Affect Stock Price

A key congressional committee is launching an investigation into Live Nation’s role in the deadly Astroworld music festival, saying it has “serious concerns” that not enough was done to prevent the tragedy. Live Nation had hit an all time high of $127.75 for their stock price right before this tragedy happened. But that could sink as this investigation toils on. It has already fallen to $119.83 at the time of this writing.

In our Songs That Work program we have Live Nation listed as a music company that is open for adding to your investment portfolio. If the stock bottoms it could be a better buying opportunity, but that also depends on how they bounce back from this investigation. Songs That Work does not give any investment advice. Never invest more than you can afford to lose. But, now is the time to watch the stock closely.

The launch of a congressional probe adds a new federal dimension to the legal troubles facing the organizers of Astroworld, a festival in Houston that left 10 dead and hundreds injured after a crowd surged toward the stage during a Nov. 5 performance by headliner Travis Scott. Live Nation, Scott himself and others are facing hundreds of negligence lawsuits filed in Texas state court by thousands of victims, setting the stage for years of litigation and potentially hundreds of millions in damages or settlements. The organizers are also facing an investigation by the Houston Police Department and other local authorities.


bottom of page