Not Quite Music to the Ears of Investors
Not Quite Music to the Ears of Investors (YahooFinance)
Robert F.X. Silverman’s dream of turning his concert promotion company into a publicly held phenomenon came true yesterday. And then, just as quickly, the concert ended; lights went on; and people headed for the exits. In this case, the people were investors, and their bee-line out of the door brought SFX Entertainment’s share price down below the $11 level. But don’t take this for the market turning a deaf ear to the idea of making money off of music promotion. It is just the opposite, as giant Las Vegas casinos like Wynn Resorts generate up to $1 million a night from their club scenes. So if you were one of the early arrivers to Silverman’s concert, just stick around for the encore.