Las Vegas Sphere Stock Is On A Roll
Look at Allegiant Stadium, then look at the Sphere. One is way larger than the other, but they both cost around the same to build, despite Allegiant Stadium seating over three times more people. Well, that gamble seems to be paying off as the Las Vegas Sphere stock is doing really well.
It Is Still Cheaper To Buy Las Vegas Sphere Stock Than Tickets To The Sphere
On June 24th, Las Vegas Sphere stock (NYSE: SPHR) was trading around $32.49. U2 had already had an incredible run at the venue. Dead & Company was having a great run. The NHL Draft was about to inhabit the venue and a movie called Postcard From Earth was showing, charging more for one ticket than what a family of four would pay at a typical movie theater.
But this isn’t a typical movie theater. This is the frickin’ Sphere. A couple billion dollars worth of screen, the best speakers you’ve ever heard, and an upper deck that will give even the most confident among us a weak stomach.
Turns out, the venue is getting every bit of that price.
The venue had a strong call with stockholders, which had the Las Vegas Sphere stock soaring, up nearly 50% from that late June date. It turns out that the Dead & Company residency was a massive success, The Eagles keep extending their upcoming residency and Anyma went from a single New Years Eve show to six dates.
Don’t Sleep On That Movie
Perhaps the most underrated thing happening right now that has the Las Vegas Sphere stock singing is the Postcard From Earth movie. Sphere Entertainment Co said the movie is bringing in around a million dollars per day. That’s without having to pay a legendary band to perform. That’s pretty outrageous.
The Sphere was a massive financial risk, but it looks like the gamble is paying off. Where else, but Las Vegas.
