Thursday, October 12, 2023
Universal Music Group’s stock price cracked the €25.50 mark ($26.91) for the first time in nearly two years Wednesday and has continued to rise today (10/12), pushing its valuation to almost $50b. Universal has not seen the €25.50 mark since the early days of it's going public two years ago.
UMG stock hit a new 52-week high of €25.64 ($27.05) today, closing at €25.56 on the EuroNext market. On Wednesday, it closed at €25.35.
The stock has been on a steady four-month climb since closing at €18.50 on 5/31. It's up nearly 50% in the last 12 months.
At the current price, UMG’s valuation is €46.14b, which will certainly give Sir Lucian Grainge something to crow about when UMG announces its Q3 results on 10/26.