Coronavirus Has Hammered the Stock Market — But It Could Be Good for Warner Music Group’s IPO
Behind that shocking headline of a $6 trillion market depletion lies the fact that simple logic has been playing out. Fears over coronavirus will, obviously enough, lead more people to stay at home while resulting in a dramatic downturn in travel.
By contrast, companies reliant on entertainment content have fared much better amid the corona scare. Video gaming giant Electronic Arts , for example, saw its stock fall by just 6.1% across last week’s five trading days. The biggest audio distribution company on the market, Spotify, also enjoyed a softer landing, falling a light 6.7% from $146.95 to $137.12.showcased a business with a $258 million fiscal-year net profit in 2019.
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