Topic: How To Invest

Q: Pat, thanks for all your recommendations over the years. Can I have your advice on Sphere Entertainment?

Article Excerpt

A: Sphere Entertainment Co., $33.72, symbol SPHR on New York (Shares outstanding: 28.2 million; Market cap: $1.2 billion; www.sphereentertainmentco.com), is one of the leading live entertainment and media companies in the U.S. The company was spun off from Madison Square Garden Entertainment Corp. (symbol MSGE) in April 2023. MSGE shareholders got one share in the new company for every share held in the parent. The spinoff’s highest-profile asset is the Sphere live entertainment venue in Las Vegas. The $2.3 billion, technologically advanced arena was officially opened by the Irish rock band U2 on September 29, 2023. The Sphere is 111 meters high and 157 meters wide, and it aims to host immersive concerts and residencies of some of the world’s greatest entertainers. It may also work as a world-famous advertising space—the ultimate electronic billboard thanks to its unique size, design and location. In early September 2023, Sphere launched its first-ever brand campaign on the “Exosphere” (the outside of the Sphere) with YouTube’s NFL Sunday…