Why Warner Music Group Stock Jumped 13% on Tuesday

·1-min read
Why Warner Music Group Stock Jumped 13% on Tuesday

Warner Music Group (NASDAQ: WMG) shareholders trounced a rising market on Tuesday, with shares up by 13% as of 3:30 p.m. EDT. An analyst at Credit Suisse hiked the bank's rating on the music giant to an outperform (or buy), saying in a note to clients that Warner Music should be a winner as demand continues to shift toward streaming. Warner Music Group IPOed in June 2020, and investors are still trying to get a feeling for its earnings potential.

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